This paper studies the link between hourly wages and workers' subjective assessments of how easy it would be to find another job as good as the present one, and how easy it would be for an employer to replace an employee. First, using high-quality data, I study the correlates of these two...

Empirical observations show that education helps to protect against labor market risks. This is twofold: The higher educated face a higher expected wage income and a lower probability of being unemployed. Although this relationship has been analyzed in the literature broadly, several questions...

The response of human capital accumulation to changes in the anticipated returns to schooling determines the type of skills supplied to the labor market, the productivity of future cohorts, and the evolution of inequality. Unlike the USA, the UK or Germany, Spain has experienced between 1995 and...

This paper explores whether and why a maternal "child penalty" to earnings would emerge even without changes in employment and hours worked. Using a matched event study design, we trace monthly changes in determinants of wages (job performance, human capital accumulation, and promotions). Data...

We combine two empirical observations in a general equilibrium occupational choice model. The first is that entrepreneurs have more control than employees over the employment of and accruals from assets, such as human capital. The second observation is that entrepreneurs enjoy higher returns to...

The recent economic policy debate in Germany emphasizes the impact of globalization of the world economy on the German labor market. This paper provides an empirical analysis of the relationship between trade and the labor market in West Germany for the period from 1970 until German...

At the turn of the millennium three frequently cited potential causes of new challenges for wage policy in Germany are revisited in this study: skilled- biased technological progress, the increasing international integration of labor and product markets, and the monetary integration of the EMU....

The labour market in Russia is very flexible. Firms adjust to economic shocks through wage cuts, working hour reductions and minimisation of non-wage labour costs. Workers react by changing jobs. This results in a high and stable overall employment rate, but also high wage inequality,...

This paper argues that the development of human capital in the public sector should be an important ingredient in any proposed set of quot;second-generationquot; reforms for Africa. In the post-colonial era the quality of governance has seriously declined, and the stock of human capital in the...