We examine the relationship between wages and skill requirements in a sample of over 50,000 managers in 39 companies between 1986 and 1992. The data include an unusually good measure of job requirements and skills that can proxy for human capital. We find that wage inequality increased both...

During the 1980's youth unemployment rates have persistently exceeded unemployment rates for adults, in Britain as in other OECD countries. In the interwar period, youth unemployment rates in Britain were dramatically lower than those for abdults. This paper explores possible reasons for the...

A model of a labor market is proposed where the level of individual talent can only be learned on the job and where job positions are scarce. Inability to commit to long-term contracts leaves firms with insufficient incentives to hire novices, causing them to bid excessively for the pool of...