For many kinds of capital, depreciation rates change systematically with the age of the capital. Consider an example that captures essential aspects of human capital, both regarding its accumulation and its depreciation: a worker obtains knowledge in period 0, then uses this knowledge in...

Les travaux sur l'insertion professionnelle des jeunes se sont multiplies ces dernieres annees. Beaucoup d'entre eux appellent a une reflexion theorique et methodologique en vue de definir un champ de recherche qui reste flou. C'est pourquoi il parait utile d'essayer d'identifier les principales...

We estimate earnings differentials for knowledge of 13 minority languages in Canada's three largest urban areas. We find that conditional on knowledge of a majority language, knowledge of a minority language is associated with lower earnings. However, the negative differential diminishes for...

The delegation of tasks to a subordinate and his access to key firm resources allow an organization to make optimal use of his knowledge and ability, but at the same time, thanks to on-the-job learning and the possibility of expropriation of these resources, this might increase the agent's...

In this paper we illustrate the possible normative relevance of the links between human capital and financial assets via an example related to growth. When the financial structure is complete, growth is indeterminate because individual allocations between human capital and a tradable asset are...

Individual returns on continuing vocational training have been in the focus of many empirical and theoretical papers. Most of the works do not explicitly discuss returns to training that is financed fully or partly by the employee. This seems surprising since several publicly funded programs to...

This paper investigates human capita; investments of migrants whose duration in the host country is limited, either by contract or by their own choice. the first part of the paper develops a model, distinguishing between migrants who immigrate on a fixed contract, and migrants who choose their...