Wir untersuchen den theoretischen Fall einer Ökonomie in der zwei verschiedene Ausbildungstypen in der Produktion verwendet werden. Die Arbeitskräfte sind heterogen in Hinblick auf ihre Fähigkeiten und selektieren sich durch unterschiedlich hohe Investitionen in Humankapital in einen der...

We consider an economy where production may use labor of two different skill levels. Workers are heterogeneous and, by investing in education, self-select into one of the two skills. Ex-ante, when firms choose their investments in physical capital, they do not know the level of human capital...

This paper provides theoretical foundations to the contemporaneous increase in computer usage, human capital and multi-tasking observed in many OECD countries during the 1990s. The links between work organization, technology and human capital is modelled by establishing the conditions under...

This paper proposes a new method to estimate the extent of job competition between workers with different schooling levels. We estimate the structural parameters of a matching function generalised to incorporate crowding out effects. We use flow data out of unemployment containing information on...

Should income transfers be conditional upon personal characteristics of the potential recipients (the so-called “tagging”) or should they only be tied to reported incomes ? This question is addressed in a partial equilibrium setting distinguishing two types of jobs and a distribution of...

This paper studies the valuation of corporate debt contracts in an intertemporal setting under uncertainty taking into account the possibility that the bondholder will be unable to sell his asset. The model considers a coupon paying debt contract with default risk in a binomial setting. Randomly...