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Human Capital and Optimal Redistribution
Koeniger, Winfried; Prat, Julien - C.E.P.R. Discussion Papers - 2014
We characterize optimal redistribution in a dynastic family model with human capital. We show how a government can improve the trade-off between equality and incentives by changing the amount of observable human capital. We provide an intuitive decomposition for the wedge between human-capital...
Persistent link: https://www.econbiz.de/10011093683
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On-the-Job Training, Firing Costs and Employment
Diaz-Vazquez, Pilar; Snower, Dennis J. - C.E.P.R. Discussion Papers - 2004
This Paper explores the influence of on-the-job training on the employment effect of firing costs. It shows that on-the-job training (generating firm specific skills) causes firing costs to have a contractionary influence on average employment (over the booms and recessions of the business cycle).
Persistent link: https://www.econbiz.de/10005123858
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Simultaneous Search with Heterogeneous Firms and Ex Post Competition
Gautier, Pieter A; Wolthoff, Ronald - C.E.P.R. Discussion Papers - 2007
symmetric equilibrium where workers mix between sending both applications to the high and sending both to the low productivity … configurations, the equilibrium outcomes are the same under directed and random search. Allowing for free entry creates a second …
Persistent link: https://www.econbiz.de/10005504344
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Unemployment and Increasing Returns to Human Capital
Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 1994
to multiple equilibria: a high-education equilibrium may coexist with a low-education equilibrium. In the former, the … Pareto-ranked, but the latter is preferred to the former by workers, while `savers' prefer the high-education equilibrium. … unemployment rates. It may be the case that this locus is steep enough to generate increasing returns to education. This may lead …
Persistent link: https://www.econbiz.de/10005124159
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When Credit Dries Up: Job Losses in the Great Recession
Bentolila, Samuel; Jansen, Marcel; Jiménez, Gabriel; … - C.E.P.R. Discussion Papers - 2013
We use a unique dataset to estimate the impact of a large credit supply shock on employment in Spain. We exploit marked differences in banks' health at the onset of the Great Recession. Several weak banks were rescued by the State and they reduced credit more than other banks. We compare...
Persistent link: https://www.econbiz.de/10011084330
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Should Firms be Required to Pay for Vocational Training?
Stevens, Margaret - C.E.P.R. Discussion Papers - 1999
Failure in the training market may result from credit constraints and the inability to insure against labour income uncertainty, deterring potential trainees, or labour market imperfections that create external benefits for firms. This paper constructs a model of a training market affected by...
Persistent link: https://www.econbiz.de/10005498076
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The Effect of Financial Rewards on Students' Achievements: Evidence from a Randomized Experiment
Leuven, Edwin; Oosterbeek, Hessel; van der Klaauw, Bas - C.E.P.R. Discussion Papers - 2003
This Paper reports a randomized field experiment in which first year economics and business students at the University of Amsterdam could earn financial rewards for passing all first year requirements before the start of their second academic year. Participants were assigned to a high reward...
Persistent link: https://www.econbiz.de/10005662274
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Income Contingent Loans for Higher Education: International Reform
Chapman, Bruce - Research School of Economics, College of Business and … - 2005
It is well known that higher education financing involves uncertainty and risk with respect to students’ future … education. The historically most common response to this market failure — a government guarantee to repay student loans to banks …
Persistent link: https://www.econbiz.de/10004970067
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Efficient Tuition & Fees, Examinations and Subsidies
Gary-Bobo, Robert J.; Trannoy, Alain - C.E.P.R. Discussion Papers - 2005
externalities generated by an individual's higher education, the optimal tuition is then greater than the university's marginal cost …
Persistent link: https://www.econbiz.de/10005136530
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Repayment Burdens with US College Loans
Chapman, Bruce; Lounkaewa, Kiatanantha - Research School of Economics, College of Business and … - 2010
There is a significant and on-going unease with, and debate concerning, the state of US college loans. One of the most important questions relates to so-called “repayment burdens”, the financial difficulties associated with repayments. This paper examines the issue from both theoretical and...
Persistent link: https://www.econbiz.de/10008691143