This paper investigates changes in the use of generic skills in Britain's workplaces, and examines which generic skills may be having an impact on wages over and above traditional human capital indicators such as education and work experience. We use instruments borrowed and adapted from...

Recent theoretical developments relating to investment under uncertainty have highlighted the importance of irreversibility for the timing of investment expenditures and their expected returns. This has subsequently stimulated a growing empirical literature which examines uncertainty and...