biographies, we estimate the model and decompose welfare costs. We find that unemployment is a small factor: Higher wages and job …

. Additional results, however, suggest that female and highly skilled participants leave unemployment quicker than other groups …

heterogeneity into account. Our results indicate that participation in JCSs increases the unemployment duration mainly due to … leave unemployment quicker than other groups, which results in highly skilled women benefiting from participation. However …, we find no significant impact on post-unemployment employment stability. Our results are robust to allowing for random …