An adverse selection model is analysed where firms can either train or hire a skilled worker. In equilibrium the market wage is determined by supply and demand.

Despite stringent dismissal restrictions in most European countries, rates of job creation and destruction are remarkably similar in European and Noeth American labor markets. This paper shows that relative-wage compression is conducive to higher employer-initiated job turnover, and argues that...

The main questions addressed in this paper are: First, how did labour markets in the Visegrad countries react to the breakdown of a command economy and the transformation to a market economy? Second, which way ahead is likely, or to put it differently, what should be done now to improve...

This paper gives a comprehensive picture of job and worker flows for the entire Danish economy. We exploit a unique central administrative register encompassing all employees of all establishments across all sectors throughout two business cycles. This enables us to broaden the focus of the...