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Migration and Human Capital: Self-Selection of Indentured Servants to the Americas
eighteenth centuries Migration and Human Capital
2015/7/15
When contracting, European merchants could at least partially observe characteristics such as the health, physical strength, and education of indentured servants.
These characteristics, unobservable...
An Adverse Selection Model of Optimal Unemployment Insurance
unemployment insurance adverse selection moral hazard
2013/10/25
We derive the shape of optimal unemployment insurance (UI) contracts when agents can exert search effort but face different search costs and have private information about their type. We derive a recu...
Heterogeneous Returns to Human Capital and Dynamic Self-Selection
Local returns to schooling average returns dynamic programming dynamic self-selection
2013/10/18
We estimate a structural dynamic programming model of schooling decisions and obtain individual specific estimates of the local (and average) returns to schooling as well as the returns to experience....
Selection Correction in Panel Data Models: An Application to Labour Supply and Wages
Panel data sample selection estimators female labour supply
2013/10/17
In recent years a number of panel estimators have been suggested for sample selection models, where both the selection equation and the equation of interest contain individual effects which are correl...
Hiring and Firing Costs, Adverse Selection and Long-term Unemployment
Adverse selection turnover costs unemployment worker flows discrimination
2013/10/18
In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment are much lower in Europe compared to North America, while employment-to-employmen...