The paper examines social security (public pension) reforms in which the programme is partially shifted from a public unfunded basis to a private, prefunded, basis.
Many sectors of the UK economy experienced rapid productivity growth over the 1980's. This coincided with an increase in the flow of inward investment.
This paper tests for the importance of cash flow on investment in fixed capital and R&D using firm-level panel data in two countries between 1985 and 1994.
We consider the estimation of Cobb-Douglas production functions using panel data covering a large sample of companies observed for a small number of time periods.