This paper suggests that the insufficient work experience of young people as compared to adults is the major cause of the hardship the former experience in the labour market both in terms of employment and wages. Economists are bewildered as to the determinants of and as to the ways to cure the...

Youth leaving school and searching for a job suffer of work experience gap. This is very similar to the skill mismatch that occurs after a shock of demand or supply of competencies: to adequate the supply of competences to the new needs, it is necessary to modify the education and training...

Le proposte di politiche per l'occupazione dell'Unione Europea sembrano in linea con la strategia individuata dall'OECD in occasione della pubblicazione del Jobs Study nel 1994. L'idea di fondo dell'OECD consensus e' che l'alta disoccupazione europea sia dovuta alle rigidita' delle norme e...

The European Employment Strategy stresses the role of human capital accumulation, to increase via reforms of the education system and active labour market policy on a large scale, as the main instruments against unemployment. We argue that these instruments might be more effective than...

The paper analyses the labour market in a framework of New Keynesian Economics (NKE). The aim of the NKE is to provide micro foundations to the main result of the Keynesian model, that is the rigidity of prices and wages as well as the presence of non market clearing equilibria. In the first...