Base in Europe, would apportion a firm's worldwide profits using formulas based on the location of employment, capital or … income, since employment and other factors on which they are based do a very poor job of explaining a firm's profits. For … example, the magnitude of property, employment and sales explains less than 22 percent of the variation in profits between …

the labor force participation of younger persons in twelve countries. We found no evidence that increasing the employment … of older persons will reduce the employment opportunities of youth and no evidence that increasing the employment of … employment circumstances of older workers. We find that these "exogenous" reforms can have a very large effect on the labor force …