Training (for workers) and innovation (for workplaces) are not free lunches. From the viewpoint of the firm, training is also highly risky, because there is uncertainty over the size of any future returns from employer-provided training. Stylized facts stress that constraints in achieving...

Wage Dispersion and Efficiency. It is often assumed that markets generate efficient allocations, but these are not necessarily fair. The widening of wage differentials that is currently observed is interpreted in this manner: Skill-biased technological progress increases demand for skilled work...

This paper explores the optimal design of subsidies for hiring unemployed workers (?employment vouchers? for short) in the context of a dynamic model of the labor market. Focusing on the short-term and long-term effects of the vouchers on employment and unemployment, the analysis shows how the...

Investigates the role of women workers in the manufacturing sector in general, and its sub-sectors in particular, from 1971 to 1991, especially in the light of technological development, globalization and employment flexibility.