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Specialization and Human Capital in Search Equilibrium

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  • MUKOYAMA, Toshihiko
  • ŞAHIN, Ayşegül

Abstract

This paper constructs a general equilibrium search-matching model with heterogeneous workers. Workers choose whether to invest in general human capital or specific human capital when they enter the labor market. We analyze how unemployment benefits affect the choice of the type of human capital investment.

Suggested Citation

  • MUKOYAMA, Toshihiko & ŞAHIN, Ayşegül, 2005. "Specialization and Human Capital in Search Equilibrium," Cahiers de recherche 26-2005, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    • Handle: RePEc:mtl:montec:26-2005
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    References listed on IDEAS

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    1. Stephen Nickell & Luca Nunziata & Wolfgang Ochel, 2005. "Unemployment in the OECD Since the 1960s. What Do We Know?," Economic Journal, Royal Economic Society, vol. 115(500), pages 1-27, January.
    2. Rosen, Sherwin, 1983. "Specialization and Human Capital," Journal of Labor Economics, University of Chicago Press, vol. 1(1), pages 43-49, January.
    3. Burdett, Kenneth & Coles, Melvyn G, 1999. "Long-Term Partnership Formation: Marriage and Employment," Economic Journal, Royal Economic Society, vol. 109(456), pages 307-334, June.
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    2. Mukoyama, Toshihiko & Sahin, Aysegül, 2009. "Specialization and efficiency with labor-market matching," Journal of Economic Dynamics and Control, Elsevier, vol. 33(1), pages 221-236, January.
    3. Mr. Kenichi Ueda & Mr. Stijn Claessens, 2008. "Banks and Labor as Stakeholders: Impact on Economic Performance," IMF Working Papers 2008/229, International Monetary Fund.
    4. Decreuse, Bruno & Granier, Pierre, 2013. "Unemployment benefits, job protection, and the nature of educational investment," Labour Economics, Elsevier, vol. 23(C), pages 20-29.
    5. Johannes F. Schmieder & Till von Wachter, 2016. "The Effects of Unemployment Insurance Benefits: New Evidence and Interpretation," Annual Review of Economics, Annual Reviews, vol. 8(1), pages 547-581, October.

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    More about this item

    Keywords

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    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
    • J65 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment Insurance; Severance Pay; Plant Closings

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