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Search frictions and (in)efficient vocational training over the life-cycle

Author

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  • Arnaud Cheron

    (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. We emphasize that related externalities are agedependent, and this can require an hump-shaped subsidy rate of training costs to restore social efficiency. These results are illustrated using a calibration on the french economy

Suggested Citation

  • Arnaud Cheron & Anthony Terriau, 2015. "Search frictions and (in)efficient vocational training over the life-cycle," Working Papers hal-01292113, HAL.
    • Handle: RePEc:hal:wpaper:hal-01292113
    Note: View the original document on HAL open archive server: https://hal.science/hal-01292113
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    References listed on IDEAS

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    1. Ljungqvist, Lars & Sargent, Thomas J., 2007. "Understanding European unemployment with a representative family model," Journal of Monetary Economics, Elsevier, vol. 54(8), pages 2180-2204, November.
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    8. Acemoglu, Daron & Pischke, Jorn-Steffen, 1999. "Beyond Becker: Training in Imperfect Labour Markets," Economic Journal, Royal Economic Society, vol. 109(453), pages 112-142, February.
    9. Lars Ljungqvist & Thomas J. Sargent, 2004. "European Unemployment and Turbulence Revisited in a Matching Model," Journal of the European Economic Association, MIT Press, vol. 2(2-3), pages 456-468, 04/05.
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    Keywords

    life cycle; search frictions; vocational training;
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