Chômage d'équilibre, dépréciation du capital humain général et subvention optimale à la formation
We analyse the optimal subsidy scheme of continuous vocational training in general human capital, considering a frictional labor market with general human capital depreciation during unemployment spell. When matched with a worker, a firm does not ex ante observe whether the worker has up-to-date knowledge or not. The model allows to identify two externalities ; their respective correlations with the human capital depreciation rate have opposite signs. We then show that a rise in the depreciation rate during unemployment spell does not necessarily imply higher training subsidies.
Volume (Year): 121 (2011)
Issue (Month): 2 ()
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