The relationship between education and unemployment incidence, although theoretically clear-cut, has rarely been quantified. Some estimates of this relationship are obtained for Britain, and these are split into the impact of schooling and qualifications on the probability of entering unemployment and on the expected duration of spells within that state. Finally, estimates of the rate of return to schooling are adjusted to take account of unemployment incidence.

The relationship between education and unemployment incidence, although theoretically clear-cut, has rarely been quantified. Some estimates of this relationship are obtained for Britain, and these are split into the impact of schooling and qualifications on the probability of entering unemployment and on the expected duration of spells within that state. Finally, estimates of the rate of return to schooling are adjusted to take account of unemployment incidence.

Are people right to think that competition improves corporate performance? The author's investigations indicate first that there are some theoretical reasons for believing this hypothesis to be correct but they are not overwhelming. Furthermore, the existing empirical evidence on this question is weak. However, the results reported here, based on the analysis of around 670 U.K. companies, provide some support for this view. Most important, the author presents evidence that competition, as measured by increased numbers of competitors or by lower levels of rents, is associated with a significantly higher rate of total factor productivity growth.

Are people right to think that competition improves corporate performance? My investigations indicate first that there are some theoretical reasons for believing this hypothesis to be correct, but they are not overwhelming. Furthermore, the existing empirical evidence on this question is weak. However, the results reported here, based on an analysis of around 670 U.K. companies, do provide some support for this view. Most important, I present evidence that competition, as measured by increased numbers of competitors or by lower levels of rents, is associated with a significantly higher rate of total factor productivity growth.