The standard human-capital model is based on the assumption that the observed wage of an individual is equal to the monetary value of the individual net human-capital productivity, the so-called net potential wage. We argue that this assumption is rejected by the ECHP data for Belgium, Denmark...

This paper takes a fresh look at the analysis of labour market dynamics and argues that capital accumulation plays a fundamental role in shaping unemployment movements. This role has generally been examined by considering indirect transmission channels of the capital stock effects, i.e. using...

We present comparable evidence on intergenerational earnings mobility for Denmark, Finland, Norway, the UK and the US, with a focus on the role of gender and marital status. We confirm that earnings mobility in the Nordic countries is typically greater than in the US and in the UK, but find...

Denmark has drawn much attention for its active labor market policies, but is almost unique in offering a voluntary public unemployment insurance program requiring a significant premium payment. A safety net program - a less generous, means-tested social assistance plan - completes the system....

"Using Finnish panel data, we study how entrepreneurs differ from workers in education and income dynamics. We find that workers have higher median income in all educational groups. Without additional controls, entrepreneurs have higher average income with all but undergraduate level of...

The Nordic countries have remarkably high participation rates of mothers and a moderate decrease of fertility rates compared to other western countries. This has been attributed to the fact that the welfare state model and, especially, the family friendly policies chosen in the Nordic countries...

This paper studies the relationship between the timing of tracking of pupils into vocational and academic secondary education and gender differences in educational attainment and income. We argue that in a system that streams students into vocational and academic tracks relatively late (age...

This paper uses administrative data to in detail document how the share of youths not in employment, education or training has evolved over time in the Scandinavian countries. We study both first- and second-generation immigrant youths as well as natives to explore whether the pattern differ...

This paper investigates the effect of a major economic recession on the educational attainment of the next generation. Our analysis is based on nationwide longitudinal registry data on Finland. We focus on the heterogenous effects of the recession on households of different socioeconomic...