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Life cycle training and equilibrium unemployment

Author

Listed:
  • Arnaud Chéron

    (GAINS - Groupe d'Analyse des Itinéraires et des Niveaux Salariaux - UM - Le Mans Université)

  • Anthony Terriau

    (GAINS - Groupe d'Analyse des Itinéraires et des Niveaux Salariaux - UM - Le Mans Université)

Abstract

This paper examines life cycle vocational training investments in the context of a model with search frictions that features skill obsolescence and heterogenous agents. We shed light on some age-dependent externalities. On the one hand, this implies that firms can increase too far from retirement the selection into training programs with respect to what it would be optimal to do. On the other hand, endogenous job creation leads unemployed job finding probabilities to be too low at equilibrium, and also decreasing at the end of the working life. In turn, the latter implies that training externalities are lower for the older workers. We calibrate the model on the french economy and assess the quantitative impact of externalities on employment.

Suggested Citation

  • Arnaud Chéron & Anthony Terriau, 2018. "Life cycle training and equilibrium unemployment," Post-Print hal-04208671, HAL.
    • Handle: RePEc:hal:journl:hal-04208671
    DOI: 10.1016/j.labeco.2017.04.004
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    Cited by:

    1. Amand, Marnix & Chéron, Arnaud & Pelgrin, Florian & Terriau, Anthony, 2023. "Soccer labour market equilibrium and efficient training of players," European Economic Review, Elsevier, vol. 156(C).
    2. Albertini, Julien & Terriau, Anthony, 2019. "Informality over the life-cycle," Journal of Economic Dynamics and Control, Elsevier, vol. 105(C), pages 182-202.
    3. Arnaud Ch ron & Anthony Terriau, 2023. "On-The-Job Search, Life-cycle Training, and the Role of Transfer Fees," TEPP Working Paper 2023-06, TEPP.
    4. Pierre-Jean Messe & Nathalie Greenan, 2023. "Knowledge transmission in the second part of careers: does formal training matter?," International Journal of Manpower, Emerald Group Publishing Limited, vol. 44(7), pages 1415-1436, April.
    5. Julien Albertini & Arthur Poirier & Anthony Terriau, 2020. "The impact of EITC on education, labor market trajectories, and inequalities," Working Papers halshs-03082382, HAL.
    6. Julien Albertini & Xavier Fairise & Arthur Poirier & Anthony Terriau, 2022. "Short-Time Work Policies During the Covid-19 Pandemic," Annals of Economics and Statistics, GENES, issue 146, pages 123-172.
    7. Arnaud Ch ron & Anthony Terriau, 2024. "Training and Job-to-Job Mobility with Transfer Fees," TEPP Working Paper 2024-09, TEPP.
    8. Marnix Amand & Arnaud Ch ron & Florian Pelgrin & Anthony Terriau, 2022. "Soccer Labour Market Equilibrium and Efficient Training of Talents," TEPP Working Paper 2022-08, TEPP.

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