http://www.nber.org/programs/ls/ls.html

"Among these international projects, Card and I, working with Richard Blundell, directed a major investigation of the British economy in conjunction with the Centre for Economic Performance of the London School of Economics and the Institute of Fiscal Studies. We found that the Thatcher and ensuing economic reforms increased market freedoms and flexibility, improving employment rates, and ending the U.K.'s downward slide in GDP per capita, but with the cost of higher inequality (8801, 8253, 8448, 8413). But in the United Kingdom, real wages grew more rapidly than did inequality, so that the standard of living of even those at the bottom of the earnings distribution improved during this period. "