models, in which “unwarranted” wages changes and the return on capital are endogenously determined, do not necessarily …

How skills acquired in vocational education and training (VET) affect wages and employment is not clear. We develop and … estimate a search and matching model for workers with a VET degree. Workers differ in interpersonal, cognitive and manual … wages. We find that firms value cognitive skills on average almost twice as much as interpersonal and manual skills, and …

, are the first to leave the firm (Last In, First Out; LIFO). Second, workers' wages rise with seniority (= a worker … to seniority in wages. Efficiency in hiring requires the workers' bargaining power to be in line with their share in the …

manufacturing. Earnings losses are larger for individuals with low initial wages, low initial tenure, and low attachment to the …

unemployment and its underlying duration distribution. We develop an analytically and computationally tractable stochastic … equilibrium model with heterogenous labor markets. In this model three different types of unemployment arise: search, rest and … cyclical unemployment to be highly volatile. The resulting unemployment duration distribution generated by the model responds …

Average wages are considerably lower in agriculture than in the other sectors. We document this fact for thirteen …

labor markets. Facing search frictions within markets and reallocation frictions between markets, workers endogenously … negatively-sloped Beveridge curve. Moreover, the model exhibits unemployment duration dependence, which (when calibrated to long …