While the volatility of job creations has been studied extensively, the survival chances of new jobs are less researched. The question when and how to expand a firm is of importance, both from the firm’s and from a macro perspective. Adjustment cost theories and arguments about option values...

We study Austrian job reallocation in the period of 1978 to 1998, using a large administrative dataset where we correct for "spurious" entries and exits of firms. We find that on average 9 out of 100 randomly selected jobs were created within the last year, and that about 9 out of randomly...

Individual time preference determines schooling enrolment. Moreover, smoking behavior in early ages has been shown to be highly related to time preference rates. Accordingly, we use smoking at age 16 as an instrument for schooling in order to cope with ability bias in a returns to education...

Little is known about the payoffs to apprenticeship training in the German speaking countries for the participants. OLS estimates suggest that the returns are similar to those of other types of schooling. However, there is a lot of heterogeneity in the types of apprenticeships offered, and...

We suggest a new method to analyze the success of firm creation by looking at the persistence of new jobs created in old and in new firms. Compared to survival rates of new versus old firms, this measure has the advantage that the sustainability of job creation in different circumstances is...