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Retraining the Unemployed in a Model of Equilibrium Employment

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  • Masters, Adrian

Abstract

An equilibrium model of search and matching is developed to analyse the effects of retraining the unemployed on the market for skilled (or semi-skilled) workers. Versions of the model with free entry of vacancies and fixed numbers of jobs are considered. The latter environment exhibits multiple equilibria. While subsidized training (and enforced participation) is justified on employment grounds, it cannot be justified on efficiency grounds. Policies that, ceteris paribus lower unemployment, also reduce the incentive to train. When such policies are introduced to a training economy, training may cease and unemployment can rise. Copyright 2000 by Blackwell Publishing Ltd and the Board of Trustees of the Bulletin of Economic Research

Suggested Citation

  • Masters, Adrian, 2000. "Retraining the Unemployed in a Model of Equilibrium Employment," Bulletin of Economic Research, Wiley Blackwell, vol. 52(4), pages 323-340, October.
    • Handle: RePEc:bla:buecrs:v:52:y:2000:i:4:p:323-40
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    Cited by:

    1. Bruno Van Der Linden, 2003. "Unemployment Insurance and Training in an Equilibrium Matching Model with Heterogeneous Agents," Working Papers 2003-01, Center for Research in Economics and Statistics.
    2. Cahuc, Pierre & Le Barbanchon, Thomas, 2010. "Labor market policy evaluation in equilibrium: Some lessons of the job search and matching model," Labour Economics, Elsevier, vol. 17(1), pages 196-205, January.
    3. Felix Reichling, 2005. "Retraining the Unemployed in a Matching Model with Turbulence," Discussion Papers 04-016, Stanford Institute for Economic Policy Research.
    4. Gabriele Cardullo & Bruno Van der Linden, 2007. "Employment Subsidies and Substitutable Skills: An Equilibrium Matching Approach," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot, Berlin, vol. 53(4), pages 375-404.
    5. Van der Linden, Bruno, 2005. "Equilibrium Evaluation of Active Labor Market Programmes Enhancing Matching Effectiveness," IZA Discussion Papers 1526, Institute of Labor Economics (IZA).

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