How do investors respond to predictable shifts in profitability? We consider how demographic shifts affect profits and returns across industries. Cohort size fluctuations produce forecastable demand changes for age-sensitive sectors, such as toys, bicycles, beer, life insurance, and nursing...

Over the last decades the German education system underwent numerous reforms in order to improve "equality of opportunity", i.e. to guarantee all pupils equal access to higher education. At the same time internationally comparative evidence yields that Germany features particularly low...

A number of studies suggest that mortality rates among East German men increased in the wake of reunification, in particular between 1989 and 1991, in some age groups by up to the thirty percent. This study first examines the developments of mortality and cause of death statistics based on...

We exploit the cross-country and time variation in the demographics and education structure in 11 European countries to study how cohort size has affected real earnings in Europe. When we pool the data of all countries, we find that cohort size has a negative and statistically significant effect...

In this paper, we analyze the distribution of the brain drain in the LAC region (Latin America and the Caribbean), Asia and Africa. We rely on an original data set on international migration by educational attainment for 1990 and 2000. Our analysis reveals that the brain drain is strong in...

The statistical analysis of cross-section data very often reveals a U-shaped relationship between subjective well-being and age. This paper uses fourteen waves of British panel data to distinguish between two potential explanations of this shape: a pure life-cycle or aging effect, and a fixed...