Conference and seminar output

Employee Stock Purchase Plans: Gift or Incentive?

Many large listed firms offer workers the opportunity to buy shares in the firm 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.

The Performance Pay Premium

Using nationally representative linked employer-employee data we find one-quarter of employees in Britain are paid for performance. The log hourly wage gap between performance pay and fixed pay employees is .36 points.  This falls to .15 log points after controlling for observable demographic, job and workplace characteristics. It falls still further to .10 log points when comparing "like" employees in the same workplace, indicating that performance pay contracts are used in higher paying workplaces.

Are Firms Paying More for Performance?

Despite its potential to raise productivity, performance-related-pay (PRP) is not widespread in market-oriented economies. Furthermore, despite secular changes conducive to its take-up, there is mixed evidence as to whether it has become more prominent over time.

Scotland's possible currency options

Speaking note, Royal Society of Edinburgh, January 2014

Union Coverage and Bargaining Outcomes

Presentation to Leading Change, a TUC workshop for union leaders, University of Warwick. Presents latest evidence on union membership, coverage, organisational capacity and union effectiveness.

Can an Ageing Scotland Afford Independence?

In the light of the current Scottish independence debate, much attention is being paid to whether Scotland and the rest of the UK (RUK) will be better off after the separation. Fiscal challenges are often quoted as a strong argument against independence. Demographic processes play an important role in determining future economic growth via their impact on labour market, saving behaviour and government budget.

How Much Does IT Consumption Matter for Growth? Evidence from National Accounts

The literature on the new economy has thus far paid little attention to households’ adoption of Information Technologies, leaving un-assessed a sizeable part of the IT-led growth. This work fills such a lack carrying out a growth accounting analysis on a wide group of EU countries and the US. It shows that, aside from Denmark and UK, Europe has benefited from a smaller growth contribution from IT consumption than the US.