Retraining is often hailed as key policy tool for aiding displaced workers and smoothing the impact of sectoral shocks …. We study the interaction of retraining and international trade in Germany, a highly open economy with extensive … government-subsidized retraining programs. Using rich administrative data we provide evidence that workers routinely retrain in …

Retraining is often hailed as key policy tool for aiding displaced workers and smoothing the impact of sectoral shocks …. We study the interaction of retraining and international trade in Germany, a highly open economy with extensive … government-subsidized retraining programs. Using rich administrative data we provide evidence that workers routinely retrain in …

model in which idiosyncratic noise in the perceived cost of retraining can lead to inefficient outcomes. This mechanism … calibration of labor market prospects suggests that information provision about the true costs of retraining may not be adequate …

does a slower pace of technological progress. Finally, our model results suggests that retraining policies are a useful …