This paper examines the impact of employment protection legislation on the age-dynamics of the labor market. We distinguish short-term from long-term contracts with high firing costs into a life cycle model of the labor market with endogenous job creations and job destructions. We show that high...

We analyse the optimal subsidy scheme of continuous vocational training in general human capital, considering a frictional labor market with general human capital depreciation during unemployment spell. When matched with a worker, a firm does not ex ante observe whether the worker has up-to-date...