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| Author: | Charlot, O. Decreuse, B. Granier, P. |
| Title: | Adaptability, productivity, and educational incentives in a matching model |
| Journal: | European Economic Review
2005 : MAY, VOL. 48:4, p. 1007-1032 |
| Index terms: | Human capital Education Labour markets |
| Language: | eng |
| Abstract: | This article examines the relation between the labour market and the educational sector, and considers a matching model with ex-post Nash bargaining, where workers have multidimensional skills and technology has segmented the search market. Education defines the scope or adaptability- and intensity or productivity - of individual skills. It is concluded that unemployment creates incentives to schooling because the need for adaptability is raised. There are less private than social returns to productivity, but no hold-up phenomenon is included. Because of wage and congestion externalities, to adaptability there are more private than social returns. |
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