This paperexamines whether subjective expectations of unemployment are reliable indicators of the probability of becoming unemployed, and investigates their association with wage growth. We find that workers’ fears of unemployment are increased by their previous unemployment experience and by...

We use a unique data set providing administrative information on earnings by skill-level (blue collars, white collars), on the local stock of human capital and on several firm’s characteristics, including balance sheet data, to investigate the size of localized human capital externalities in...