Conference and seminar output

Employee Share Purchase Plans - Gift or Incentive?

Many large listed firms offer workers the opportunity to buy shares of stock at discounted rates through employee stock purchase plans (ESPP). The discounted rate creates a gift exchange, where the firm hopes that workers who accept the gift reciprocate with greater loyalty and effort. But ESPPs diverge from standard gift exchange or efficiency wage models. Employees have to invest some of their own money by purchasing shares at the discounted rate to accept the gift. A sizeable number choose to reject the gift.

Worker Representation in Britain

Presentation to Smith Institute's Inquiry into Workplace Democracy, In-Work Poverty and the New Economy

What Happens When Employers are Free to Discriminate?

Research on employers' discrimination is limited by the unlawfulness of such activity. As such, researchers have focused on the intention to hire, rather than hiring decisions and wage settlements. Instead, we rely on a virtual labour market, the UK Fantasy Football league, where employers can freely exercise their taste for racial discrimination in terms of hiring, firing and market valuation . We find black players are valued more highly than white players, but the difference disappears after controlling for on-field performance and other observable characteristics.

Workplace Representation in Europe

Presentation at BUIRA 2012 conference in Bradford of research (funded by Eurofound and using the 2009 European Company Survey) seeking to explain variations in the prevalence of workplace representation across Europe.

CEO Incentive Contracts in China: Why Does City Location Matter?

Although China is now the second largest economy in the world, we know little about what influences the use of executive incentives outside the public listed sector. This paper is the first to examine incentive contracts for CEO\\\'s across all sectors of the economy. We do so using World Bank enterprise data for 2005. We show that incentive contracts are commonplace but that their incidence varies significantly across Chinese cities.

Macroprudential Policy Rules

9th EUROFRAME Conference, The euro area in crisis: challenges for monetary and fiscal policies, and prospects for monetary union; Kiel, Germany

A Review of Occupational Regulation and its Impact

Summary of a review conducted for UKCES on occupational regulation in the UK. Presented at a UKCES seminar.

Does How You Are Paid Affect the Way You Feel?

We show that worker wellbeing is not only related to the amount of compensation workers receive but also how they receive it. Those in receipt of group performance bonuses, profit shares, and those in share ownership schemes, have higher job satisfaction than other employees, having conditioned on wage levels. The size of the satisfaction effect depends on the size of the bonus payment. Those in receipt of incentive payments are also less likely to quit the firm. These findings hold having accounted for person fixed effects.

Fiscal multipliers and fiscal consolidations

14th Banca d'Italia Public Finance Workshop, Fiscal Policy and Growth, 28-31 March 2012, Perugia

Outlook for the UK

AIECE General Meeting, Madrid