Lamo, Ana; Messina, Julián; Wasmer, Etienne - C.E.P.R. Discussion Papers - 2006
others suffer long periods of costly adjustment, typically high and persistent unemployment and temporary output losses. We … initial education, and analyze the transition to a new steady-state after a sectoral demand shift. In the absence of mobility … increased flexibility, Estonia, we document our main claim, namely that specialized education reduces workers' mobility and …