This paper is concerned with the link between productivity growth and the increasing importance of intangible assets. A growing literature suggests that the standard production function, consisting of capital and labour, is inadequate in accounting for modern changes in productivity. Knowledge...

A regression discontinuity approach is used to analyse the effect of the legislated increase in the UK National Minimum Wage (NMW) that occurs at age 22 on various labour market outcomes. Using data from the Labour Force Survey we find a 2-4% point increase in the employment rate of low skilled...