IMF working paper: Structural reform in Germany

This paper provides a quantitative evaluation of the macroeconomic, distributional, and fiscal effects of three reform proposals for Germany: i) a reduction in the social security tax in the low-wage sector, ii) a publicly financed expansion of full-day child care and full-day schooling, and iii) the further deregulation of the professional services sector. The analysis is based on a macroeconomic model with physical capital, human capital, job search, and household heterogeneity. All three reforms have positive short-run and long-run effects on employment, wages, and output. The quantitative effects of the deregulation reform are relatively small due to the small size of professional services in Germany.

Link to full report: IMF Working Paper

80% of major jurisdictions use central qualifying assessment

In an international benchmarking exercise, the Solicitors Regulation Authority (SRA) in England and Wales finds that almost 80% of the jurisdictions surveyed have a common assessment as part of lawyer qualification.

Press release on SRA website

Report on SRA website