This paper examines alternative approaches to wage subsidy programmes. It does this in the context of a recent active labour market reform for the young unemployed in Britain. This "New Deal" reform and the characteristics of the target group are examined in detail. We discuss theoretical...

We specify an equilibrium model of car ownership with private information where individuals sell and purchase new and second-hand cars over their life-cycle. Private information induces a transaction cost and distorts the market reducing the value of a car as a savings instrument. We estimate...

Work Related training is currently at the top of the political and public policy agenda. The report looks at who gets work related training in Britain, the effect it has on the subsequent employment prospects of men and women, the wage payoffs to different types of work related training, and...

In this paper we develop the collective labour supply framework to allow for corner solutions and nonparticipation in employment.We derive conditions for the complete non parametric identification of individual preferences.We extend our results to allow for unobserved heterogeneity and show...

A model is developed that allows for a lay-off rate and a job arrival rate in the intertemporal choice of consumption and labor market state. The identification of such a model is established without recourse to dynamic programming solutions and the minimum date requirements for estimation are...