Starting a firm with expansive potential is an option for educated and high-skilled workers. This option serves as an insurance against unemployment caused by labour market frictions and hence increases the incentives for education. We show within a matching model that reducing the start-up...

In a non-stationary job search model we allow unemployed workers to have a permanent option to leave the labour force. Transitions into nonparticipation occur when reservation wages drop below the utility of being nonparticipant. Taking account of these transitions allows the identification of...

This paper draws together, in the form of a survey, a number of different aspects of the United Kingdom's international migration experience since the Second World War. The areas covered include changes in the volume and composition of international migration and the factors influencing...