Pierce O’Reilly

Proud!

I have a new research paper that explores the question of whether the gains of new technologies could be more equitably shared between firms and workers. Excited about the results ("win-win" outcomes are possible!) and expanding the scope of this research going forward! Check it out:

Are win-win outcomes possible with #AlgorithmicManagement? Discover how German firms engage workers to boost both productivity & job quality. What could this mean for your workplace?

See latest analysis ➡️ oe.cd/68J

#OECDAI | @oecddigital.bsky.social @annamilanez.bsky.social

Gaza doctors ‘becoming too weak to treat patients’ as hunger crisis deepens Malnourished medical staff say they are struggling to provide care to injured civilians, while recovery rates are also hit by

Gaza doctors ‘becoming too weak to treat patients’ as hunger crisis deepens

Not a great looking graph for Ireland when it comes to support for Ukraine - in today’s FT.

Without immediate intervention, the last reporters in Gaza will die July 21, 2025 AFP has been working with 1 writer, 3 photographers and 6 videographers, all freelance, in the Gaza Strip since its staff journalists left in 2024. Along with a few others, they are now the only ones left to report what is happening in the Gaza Strip. The international press has been banned from entering the territory for nearly two years. We refuse to watch them die. One of them, Bashar, has been working with AFP since 2010, first as a fixer, then freelance photographer, and since 2024, as lead photographer. On July 19th he managed to post a message on Facebook: “I no longer have the strength to work for the media. My body is thin and I can’t work anymore.” Bashar, 30, works & lives in the same conditions as all Gazans, moving from one refugee camp to another under Israeli bombings. For > a year he’s lived in utter destitution, working at extreme risk to his life. Hygiene is a major issue for him, with recurring bouts of severe intestinal illness. Since Feb, Bashar’s been living in the ruins of his home in Gaza City with his mother, 4 brothers & sisters and the family of one of his brothers. Their house is devoid of any furnishings, except a few cushions. On Sunday morning, he reported that one of his brothers had “fallen, due to hunger.” Even though these journalists receive a monthly salary from AFP, it’s no longer enough to buy food, or they have to pay completely exorbitant prices. The banking system has collapsed, and those who exchange money via online bank accounts charge a commission of up to 40%. AFP no longer has the ability to provide them with a vehicle and there is not enough fuel to allow these journalists to travel for their reporting. Driving a car means becoming a target for Israeli airstrikes. AFP reporters therefore travel on foot or by donkey cart. (alt txt continued in next post)

A horrifying statement published today by the Editorial Committee of the Agence France-Presse (AFP) news agency.

"Without immediate intervention, the last reporters in Gaza will die"

Translation from French to English by @cnorristrent.bsky.social:

Kudos to the @oecd-ocde.bsky.social for engaging with and citing the growing literature on the effectiveness of the Common Reporting Standard

There are many organizations out there who would rather choose to ignore evidence of imperfection!

www.oecd.org/content/dam/...

Genuinely cannot be emphasised enough.

Appreciate that @theonion.com publishes this as a St. Paul, Minnesota story about a research paper in the Journal of Economic Perspectives.
theonion.com/study-majori...

The EU is determined to clamp down on organised crime’s infiltration of legitimate businesses and banking. This column shows that dismantling Mafia connections leads to more bank credit to legitimate businesses, raising local output and productivity. It also leads to a modest increase in borrowing costs, driven by foreign and non-local banks, as they update their risk models in light of new revelations. These findings suggest that tighter crime controls can strengthen the banking system and wider economy – a win-win for Europe’s security and prosperity.

Dismantling Mafia connections leads to more bank credit to legitimate businesses, raising local output and #productivity. Tighter #crime controls can strengthen the #banking system and wider economy.
B Buchetti, M Fabrizi, E Ipino, I Miquel Flores, A Parbonetti
cepr.org/voxeu/column...
#EconSky

The best book in comparative politics of the last few years. Great to see this recognition.

#CallforPapers for Philippe Martin Award 2025

For junior scholars working in:
– International Econ
– Economic geography
– International macro/finance

Winner will present at the #CEPRParisSymposium @sciencespo.bsky.social
🗓️ Apply by 31 July 2025: cepr.org/events/phili...

#EconSky #EconConf

Graph that shows bunching at the €2.57 million 2013 3rd tax bracket simplification threshold. Many countries are considering introducing or reforming their wealth tax policies. This column studies the effects of a French wealth tax reform, which reduced reporting requirements, on taxpayer behaviour. The scaling back of reporting requirements had large negative effects on tax compliance, with 35% of wealth taxpayers missing in affected brackets and evading 10% of their total wealth tax payments each year. The findings indicate that taxpayers are more likely to under-report the value of less easily verifiable assets such as housing, whereas financial assets are more transparent and thus harder to manipulate.

Fewer reporting requirements had large negative effects on French wealth tax compliance, w/ 35% of wealth taxpayers missing in affected brackets & evading 10% of payments each year.
@bgarbinti.bsky.social @s-stantcheva.bsky.social @gabrielzucman.bsky.social et al.
cepr.org/voxeu/column...
#EconSky

Graph of network sector regulation among OECD countries from 1975-2023. There was massive deregulation especially in the 1990s and early 2000s across the OECD. Product market regulation reforms directly affect firm entry, innovation and reallocation, and thus productivity and economic growth. This column leverages the 2025 update of the OECD Energy, Transport and Communications Regulation indicator to show that anticompetitive regulations in upstream sectors curb long-run economic performance in downstream sectors. Across the OECD, deregulation in network industries between 1980 and 2023 raised labour productivity by about 5%, with larger gains in manufacturing. The fading effects of product market reforms can account for up to one-sixth of the post-2005 productivity slowdown. Looking forward, reloading network sector deregulation could yield smaller, yet still material, productivity gains.

Anticompetitive regulations in upstream sectors curb long-run economic performance in downstream sectors. Across the OECD, #deregulation in network industries between 1980-2023 raised labour productivity by about 5%.
D Andrews, B Égert, C de La Maisonneuve, C Castle
cepr.org/voxeu/column...
#EconSky

A new, detailed proposal on how to transform ESMA into the single supervisor that EU capital markets need.

This looks great.

Female PhD students (in economics) benefit tremendously from having female faculty around.

When female professors go on leave, it decreases third-year female PhD students’ likelihood of publishing & securing academic positions.

papers.ssrn.com/sol3/papers....

The spring of 2025 has been the UK’s sunniest and warmest on record.

Here's how the intense heat is affecting Britain: www.ft.com/content/650c...

#Resilientsupplychains comes from managing risk—not isolation.

OECD modelling shows that relocalising supply chains could cut trade by 18%, reduce GDP by 5%, and fail to improve stability.

Learn more🔗 www.oecd.org/en/publicati...

This is a lovely post comparing algorithms to compute OLS coefficients

Huzzzzahhh! The potential here for Europe is so enormous. And it all basically amounts to a free lunch. Big European Council summit coming

More EU debt issuance would be the best response to Trump’s tariffs The European Union should think strategically and seize the opportunity to fill the void created by Trump

Great piece by @martinsandbu.ft.com in today’s FT. As I wrote back in April, the EU’s best response to Trump’s tariffs would be to issue more EU debt. My preference however is for ramping up genuine EU debt issuance, not settling for synthetic asset solutions.

www.bruegel.org/first-glance...

🚨New working paper🚨 w/ @jeannebomare.bsky.social

We use data leaked from the Isle of Man to understand how well international agreements meant to provide tax authorities with info on foreign accounts actually work

We find that tax authorities probably receive a lot less than they would desire

🧵👇

The Wolf-Krugman Exchange: The economy in an uncertain world In the third of this six-part series of The Economics Show, Martin Wolf, the FT’s chief economics commentator, and Nobel Prize-winning economist Paul Krugman, discuss the dangers facing the world economy and ask what outcomes are possible at summits such as the G7 in times of significant political and economic risk when there are enduring problems especially in the world's two largest economies

The Wolf-Krugman Exchange: The economy in an uncertain world https://on.ft.com/45x8t6o | opinion

Trade within Multinational Boundaries Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...

It's incredibly hard to solidly estimate the share of global trade happening *within* firms (intra-firm/arm's length trade). But using linked US BEA and consus data, this new paper finds a lower bound of about 75% of corporate affiliates in North America trading with their US parent

Analyzing US multinational enterprises' trade flows using newly linked customs transaction data and their production networks, revealing intrafirm linkages and trade frictions in regional supply chains, from Alfaro, Conconi, @fkamal.bsky.social, and Kroff https://www.nber.org/papers/w33887

Paolo Surico, a professor at the London Business School, has briefed officials at the Treasury and Ministry of Defence on research he conducted suggesting that extra defence spending worth 1 per cent of GDP could raise GDP by up to 2 per cent in the long term and boost the UK's poor productivity by o.3 per cent over 15 years - provided the money is concentrated on research and development.

Another influential voice in the Treasury is John Van Reenen, a professor at the London School of Economics and adviser to the chancellor, whose research suggests that government-funded R&D, especially in defence, does "crowd in" private R&D and result in higher total spending on innovation, with a positive effect on productivity.

Interesting piece on how to maximise the crowding in of investment through defence spending - R&D is one of the best routes to do this
on.ft.com/3FJizq0

The thing that is particularly noteworthy here - to me at least - is that effective tax rates (i.e. what's actually paid) have *increased* recently. This aligns with OECD data (which uses a different methodology). It might be the first time in 40 or 50 years that such a broad increase has happened.

Hell yeah www.vulture.com/article/new-...

As the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (phew) reaches *150* signatories, it is my lot in life to remind you that it remains one of the most incredible and underrated triumphs of multilateralism in the globalization era

www.oecd.org/en/about/new...