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limit how hard the apprentice can work and how long the apprenticeship can last …We study the design of careers by a principal who trains a cash-constrained agent, or apprentice, who is free to walk … to the apprentice's continued participation. In the optimal contract, the apprentice pays for training by working for low …
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This paper studies the macroeconomic effects and sequencing of (LMRs) and product (PMRs) market reforms in Morocco. It finds that introducing LMRs and PMRs simultaneously would add about 2.5 percentage points (pp) of GDP growth and reduce unemployment by about 2.2 pp after five years. If...
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