corner solutions. These intermediate regimes are characterized by significant foreign exchange market interventions of … different forms of floating on the basis of a central bank's intervention activity: pure floating (no interventions … interventions and sterilization and we explain why a central bank has an interest in controlling simultaneously the exchange rate …

The paper examines the optimal level of training investment when trained workers are mobile, wage contracts are time …-consistent, and training comprises both specific and general skills. It is shown that, in the absence of a social planner, the firm …-post monopsonistic power in wage determination. Local union-firm wage bargaining ensures that the post-training wage is set sufficiently …

There is a vast empirical literature on the effects of training on wages that are taken as an indirect measure of … productivity. This paper is part of a smaller literature on the effects of training on direct measures of industrial productivity …. We analyse a panel of British industries between 1983 and 1996. Training information (and other individual productivity …

We analyse Polish active labour market policy (ALMP) training programmes from a macroeconomic (regional) point of view …. The effects of training programmes on the outflows from unemployment and the effects of all ALMP programmes on the … gives some tentative support to the view that public training programmes can be used to reduce unemployment. …

This paper offers and tests a theory of training whereby workers do not pay for general training they receive. The … firm to provide training. We show that the model can lead to multiple equilibria. In one equilibrium quits are endogenously … high and as a result employers have limited monopsony power and are willing to supply only little training, while in …

This paper incorporates training in the design of unemployment policies. Human capital falls upon displacement and … continuously depreciates during unemployment. While training counters the decrease in human capital, it also affects the … willingness of the unemployed to search. I characterize the optimal insurance contract when participation to training programs …