This setting lets you change the way you view articles. You can choose to have articles open in a dialog window, a new tab, or directly in the same window.
Open in Dialog
Open in New Tab
Open in same window
Open in New Tab
Open in same window
American Economic Review: Vol. 96 No. 3 (June 2006)
AER Volume. 96, Issue 3 | 
Previous ArticleNext Article
Sign up for Email Alerts Follow us on Twitter
AER Forthcoming Articles
Full-text Article
Previous ArticleNext Article
Expand
Quick Tools:
Print Article Summary Email Link to this Article Export CitationSign up for Email Alerts Follow us on Twitter
Explore:
AER Forthcoming Articles
General versus Specific Skills in Labor Markets with Search Frictions and Firing Costs
Article Citation
Wasmer, Etienne. 2006. "General versus Specific Skills in Labor Markets with Search Frictions and Firing Costs."
American Economic Review,
96(3): 811-831.
DOI: 10.1257/aer.96.3.811
DOI: 10.1257/aer.96.3.811
Abstract
Human capital investments are not independent of the aggregate state of labor markets: frictions and slackness of the labor market raise the returns to specific human capital investments relative to general investments. We build a macroeconomic model with two pure strategy regimes. In the pure G-regime, workers invest in general skills. This occurs when they face high turnover labor markets and in the absence of employment protection. The pure 5-regime in which workers invest in skills specific to their job appears when employment protection is high enough. Implications for a characterization of Europe-United States differences are provided in conclusion. (JEL: J63, J30)
Article Full-Text Access
Full-text Article
Authors
Wasmer, Etienne
