The fiscal and distributive impacts of three reforms to the social security pension system in the UK are evaluated. All three reforms are designed to increase the retirement age by changing the incentive structure underlying the pension system. The first increases the state pension age by three...

We characterize the response of U.S., German and British stock, bond and foreign exchange markets to real-time U.S. macroeconomic news. Our analysis is based on a unique data set of high-frequency futures returns for each of the markets. We find that news surprises produce conditional mean...

Since 1997, the Bank of England Monetary Policy Committee (MPC) has met monthly to set the UK policy interest rate. We examine evidence of systematic patterns in exchange rate movements on MPC days over the first decade of operation of the MPC. Daily data reveal significant differences in...

This paper tries to assess whether or not we have any empirical evidence of links between early retirement and youth unemployment. Most economists would today dismiss the idea immediately as another version of the naive 'lump-of-labor fallacy'. In its most basic form, this proposition holds that...

Ein klarer Fachkräftemangel behindert das Wachstum der Informationstechnik (IT)-Branche nicht nur in Deutschland, sondern auch in anderen Ländern. In dieser Studie wird untersucht, in welchem Ausmaß Schulabgänger mit einem Studium der Informatik in fünf industrialisierten Ländern, den USA,...

Obwohl gegenwärtig viele Autoren das "Produktivitätsparadox der Informationstechnik" als ein Thema ansehen, das, zumindest in den USA, auf der Firmenebene gelöst wurde, bleiben noch einige Unklarheiten auf den Ebenen von Branchen- und Volkswirtschaft bestehen. Der vorliegende Beitrag...