Participation in Workplace Pension Schemes and the Effect of Provision: Evidence from the United Kingdom*

This study investigates the effect of public policies enforcing workplace pension plan provision on participation rates. Using British data covering almost two decades (1992–2009), I identify the potential opt‐in rate among private sector workers who have not been offered a workplace pension plan, had they been offered the opportunity to join such a saving scheme. I find that universal provision of workplace pension schemes alone could generate a major impact on pension coverage.     

Dynamics of currency crises with asset market frictions

This paper presents a dynamic model of currency crises with frictions. By construction, a speculative attack is not an instantaneous event but takes a little time to deplete the country's reserves and, in the event of an attack, agents are uncertain about whether they will be able to act before the devaluation comes. The currency will be overvalued (‘ripe for attack’) for a long time before an attack takes place. A discrete and sizable devaluation will occur. Small changes in fundamentals may trigger an attack. The model brings insights about the dynamics of currency crises and the effects of some key policy variables.     

Challenges to open innovation in traditional SMEs: an analysis of pre-competitive projects in university-industry-government collaboration

International Entrepreneurship and Management Journal - Governments are increasingly focusing their efforts on stimulating innovation within small and medium-sized enterprises (SMEs). As a result,...