Showing 1 - 10 of 23
Frequent non-completion in optional education can be efficient if dropouts optimally exercise an option rationally foreseen by previous enrollment choices. This paper shows that in educational opportunities and groups of students where enrollment resolves more pronounced individual uncertainty...
Persistent link: https://www.econbiz.de/10013246471
This paper explores the relationship between the duration of a vacancy and the starting wage of a new job, using unusually informative data comprising detailed information on vacancies, the establishments posting the vacancies and the workers eventually filling the vacancies. We find that...
Persistent link: https://www.econbiz.de/10012892235
Nonemployment is often posited as a worker’s outside option in wage setting models such as bargaining and wage posting. The value of this state is therefore a fundamental determinant of wages and, in turn, labor supply and job creation. We measure the effect of changes in the value of...
Persistent link: https://www.econbiz.de/10012892243
This paper discusses long-term trends in the macroeconomic growth performance and in income distribution in Europe and the U.S. We review insights from the recent macroeconomic literature on inequality and growth and use these insights to shed light on the growth and inequality trends
Persistent link: https://www.econbiz.de/10010315947
This paper reviews the Italian unemployment experience, analyzing in particular the time-series behavior of unemployment rates along the path that brought Italy into Europe's Economic and Monetary Union, and their disaggregated structure across geographical and demographic dimensions. High...
Persistent link: https://www.econbiz.de/10010315642
Trading the cost of better performance off the probability that an imprecise test's performance estimate falls short of the pass threshold, an assessee may perform above the threshold (and fear failure because of negative errors) or below it (and hope to pass because of positive errors). This...
Persistent link: https://www.econbiz.de/10014534414
Additional retake opportunities generally increase the probability of eventually passing a given threshold at given competence, and decrease preparation for exams. Preparation work performed before the first attempt may increase only for very weak students, and may decline so much as to decrease...
Persistent link: https://www.econbiz.de/10014534417
This paper studies theoretically and empirically why and how labor policies may reduce productivity and employment in order to stabilize labor incomes and redistribute resources. It proposes a specific stylized model where the tradeoffs facing labor policies are influenced by structural factors,...
Persistent link: https://www.econbiz.de/10010328760
Race-to-the-bottom deregulation is to be expected when markets operate across the borders of countries that independently choose and enforce labor policies. Less obviously, in pre-crisis EMU reforms of labor market policies were uneven and related to international imbalances. That pattern is...
Persistent link: https://www.econbiz.de/10010398640
We analyze the implications of labor market reforms for an open economy's human capital investment and future production. A stylized model shows that labor market deregulation can imply more positive current account balances if financial markets are imperfect and labor market institutions not...
Persistent link: https://www.econbiz.de/10010480794