Supply and Demand Responses to Skill-Biased Technical Change: a Matching Approach with Heterogenous Workers
AbstractWe consider the labour market implications of skill decay. State dependence in individual hazards emerges from the joint result of (optimal) hiring and search behaviours. We shed light on an original externality according to which firms' profits increase with the valuation of vacancies. Consequently, there can be multiple equilibria, those of which displaying the longest duration of employability also entail the least search efforts. Policies aimed at reducing long-term unemployment generally discourage search efforts, so that their results are ambiguous.
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Bibliographic InfoPaper provided by Universite Aix-Marseille III in its series G.R.E.Q.A.M. with number 00a14.
Length: 26 pages
Date of creation: 2000
Date of revision:
Contact details of provider:
Postal: G.R.E.Q.A.M., (GROUPE DE RECHERCHE EN ECONOMIE QUANTITATIVE D'AIX MARSEILLE), CENTRE DE VIEILLE CHARITE, 2 RUE DE LA CHARITE, 13002 MARSEILLE.
Web page: http://www.greqam.fr/
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PUBLIC POLICY ; BEHAVIOUR ; EXTERNALITIES;
Find related papers by JEL classification:
- J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
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