We set a model of skill acquisition where individuals choose the scope and intensity of their skills. More general skills allow the worker to perform on more jobs, but with a lower productivity. When the investment takes place before the labor market entry, frictions motivate the acquisition of...

European labour markets have known three majour changes over the past three decades : the complexification of the technological environment, the growth of general education across the workforce, and rising unemployment. Taken together, do these facts reflect the inefficiency of schooling and...