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This paper examines how individuals use their labour supply-hours of work and participation decisions-as a margin of adjustment or 'buffer' in response to financial shocks. The financial shock measure is constructed using individuals' expected change to their financial situation in the year ahead relative to the perceived outcome one year later. Using BHPS data, we find that both men and women adjust their labour supply in response to financial shocks. The propensity to participate in the labour market also appears to respond to the experience of a financial shock, but is less robust. [ABSTRACT FROM AUTHOR]

The article focuses on the benefits of the growing pharmaceutical and biotechnology industry in Hong Kong, China for Chinese scientists. These developments in the industry increase the return of Chinese scientists who are training abroad, such as the U.S. According to Scott Wadsworth, researcher at Johnson & Johnson Research & Development, their knowledge in the language and culture allows them to obtain higher positions. The main factor driving growth in biotechnology-based industry is the demand for low-cost labor.