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The nature of credit constraints and human capital
Lochner, Lance J.; Monge-Naranjo, Alexander - 2010
We develop a human capital model with borrowing constraints explicitly derived from government student loan programs and private lending under limited commitment. Two key implications of our analysis are: (i) binding constraints may not depress investment; and (ii) a positive relationship...
Persistent link: https://www.econbiz.de/10010291941
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Displacement, asymmetric information and heterogeneous human capital
Hu, Luojia; Taber, Christopher - 2008
In a seminal paper Gibbons and Katz (1991; GK) develop and empirically test an asymmetric information model of the labor market. The model predicts that wage losses following displacement should be larger for layouts than for plant closings, which was borne out by data from the Displaced Workers...
Persistent link: https://www.econbiz.de/10010292119
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Wages, experience and seniority
Dustmann, Christian; Meghir, Costas - 2001
In this paper we study the sources of wage growth. We identify the contribution to such growth of general, sector specific and firm specific human capital. Our results are interpretable within the context of a model where the returns to human capital may be heterogeneous and where firms may...
Persistent link: https://www.econbiz.de/10010293036
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Kündigungsschutzrecht in den USA und in Deutschland: ein Beitrag zur ökonomischen Rechtsvergleichung
Kirstein, Roland; Kittner, Michael; Schmidtchen, Dieter - 2000
wird gezeigt, daß das Vorurteil unbegründet ist, der Kündigungsschutz sei in den USA ?schwächer? (arbeitgeberfreundlicher … Deutschland ist die Wahrscheinlichkeit einer Abfindung höher, in den USA die Höhe der Zahlung). Eine institutionenökonomische … der Arbeitgeber und Arbeitnehmer einzudämmen hilft. Diese Art der Sicherung spezifischer Investitionen in Humankapital …
Persistent link: https://www.econbiz.de/10010296913
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Wage divergence and unemployment: the impact of insider power and training costs
Muysken, Joan; Zwick, Thomas - 2000
general equilibrium model, this paper shows that skilled insiders in the USA enjoy higher rents and increase the skilled wage … outsiders in the USA do not possess a powerful credible threat to improve their position. This is a consequence from higher … training and education costs in the USA for unskilled employees and unemployed. In Germany, the lower skill wage mark-up leads …
Persistent link: https://www.econbiz.de/10010297700
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Family reunification or point-based immigration system? The case of the United States and Mexico
López Real, Joel - 2011
While the immigration policy in the United States is mainly oriented to family reunification, in Australia, Canada and the United Kingdom. it is a points-based immigration system which main objective is to attract high skilled immigrants. This paper compares both immigration policies through the...
Persistent link: https://www.econbiz.de/10010305981
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Why do wages slope upwards? Testing three labor market theories
Prinz, Joachim - 2001
Persistent link: https://www.econbiz.de/10010306054
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Aggregation Bias in Elasticities of Substitution and the Minimum Wage Paradox
Teulings, Coen N. - 1998
While the employment effects of minimum wages are usually reported to be small (suggesting low substitutability between skill types), direct estimates suggest a much larger degree of substitutability. This paper argues that this paradox is largely due to a bias induced by the aggregation of...
Persistent link: https://www.econbiz.de/10010324516
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Returns for Entrepreneurs versus Employees: The Effect of Education and Personal Control on the Relative Performance of Entrepreneurs vis-a-vis Wage Employees
van Praag, Mirjam; van Witteloostuijn, Arjen; van der … - 2009
How valuable is education for entrepreneurs’ performance as compared to employees’? What might explain any differences? And does education affect peoples’ occupational choices accordingly? We answer these questions based on a large panel of US labor force participants. We show that...
Persistent link: https://www.econbiz.de/10010325994
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Globalization, brain drain and development
Docquier, Frédéric; Rapoport, Hillel - 2011
This paper reviews four decades of economics research on the brain drain, with a focus on recent contributions and on development issues. We first assess the magnitude, intensity and determinants of the brain drain, showing that brain drain (or high-skill) migration is becoming the dominant...
Persistent link: https://www.econbiz.de/10010336056