There's no way to climb a ladder without rungs. John Lund/Photodisc via Getty ImagesWhen I leave my Boston condo every day, I say good morning to the concierge, who works for a contracting company providing staff to residential buildings. When I conduct an interview in a nearby building, the people who clean that office at night are contractors.

This paper examines the impact of labour and product market reforms on private investment across 26 advanced economies from 1975 to 2020. To this end, we combine a narrative database on major structural reforms with local projections and augmented inverse probability weighting. We find that a major labour market reform typically increases the level of real private investment by 5% cumulatively within six years, while a major product market reform yields an impact of 3%.

Probe concerns shareholder dispute over cancer specialist Oncoclínicas

Wall Street groups are working with the chipmaker to assemble a $500bn funding package for AI infrastructure