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List of Figures | |
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List of Tables | |
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List of Contributors | |
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Preface | |
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The Macroeconomics of Education | |
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Introduction | |
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Background | |
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Organization and summary of the report-Part 1 | |
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Theory and facts | |
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The growth vs. cohesion trade-off | |
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Improving the trade-off: a study of mismatch, mobility and skill specialization | |
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Policy Implications | |
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Theory and Facts | |
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A brief theoretical perspective on human capital investment with a focus on institutions | |
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Introduction | |
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Theory | |
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Perfect financial markets | |
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Financial imperfections | |
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Life-cycle and on-the-job investments | |
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Labour market frictions | |
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Conclusions of the theory part | |
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Classification of education | |
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The supply of education and its trends | |
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Financing and quality | |
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Returns to education: unemployment, wages, mobility | |
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Wage returns to education | |
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Employment and unemployment | |
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Geographical mobility | |
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Conclusion | |
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Education Priorities: Growth vs. Cohesion | |
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Cohesion and the Supply of General Skills in Europe | |
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Introduction | |
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Schooling and skills by cohort: a long-run perspective | |
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Data description | |
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Schooling and skills by cohort | |
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The skills among those still in school | |
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Mean student performance | |
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Student/teacher ratios | |
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Equality | |
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Implications for wage inequality | |
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Concluding remarks | |
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Higher Education, Innovation and Growth | |
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Introduction | |
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A survey of the effects of education on growth | |
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International migration, the brain drain and 'talents' | |
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Immigration to the EU and the USA: size and composition | |
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'Talents': analysing their mobility and contribution | |
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Highly educated, productivity and innovation | |
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Quality of highly skilled foreign-born in the US | |
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Effect on innovation | |
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Conclusions | |
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The Margins of Improvement of Education Institutions: Skill Mismatch, Skill Portability and Mobility | |
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Internal Mobility, Skills and Education | |
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Introduction | |
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Internal mobility: EU versus USA | |
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Mobility and education in Europe | |
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Introduction | |
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Data: ECHP and geographical mobility | |
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More descriptive statistics on mobility | |
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Theory | |
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First strategy: comparing job-related mobility and mobility for other reasons | |
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Second strategy: estimating the income gain from migration | |
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Further comments on mobility and education | |
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Determinants of mobility of highly skilled workers across US state data | |
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Conclusions | |
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Skill Mismatch and Over-qualification in the Enlarged Europe | |
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Introduction | |
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A brief survey of the literature | |
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Skill mismatch and over-qualification in the EU-15 | |
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Who is over-qualified or mismatched? | |
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Over-qualification, skills mismatch and wages | |
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Education mismatch in a transition economy: the case of Poland | |
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Returns to over-under-education | |
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Nature of education mismatch in Poland | |
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Overall conclusions | |
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Specificity of Skills and Reallocation | |
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Introduction | |
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Skill specialization in Europe | |
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Measurement of specific skills | |
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An application to two accession countries, Poland Estonia | |
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Policy implications | |
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References | |
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Appendices | |
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Comments | |
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Juan J. Dolado | |
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Daniel Gros | |
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Workplace Training in Europe | |
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Introduction | |
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An Overview of the Theoretical Framework | |
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The received wisdom | |
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Challenges to this orthodoxy | |
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An overview of the various approaches and their empirical predictions | |
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General training in a perfectly competitive labour market | |
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Imperfect capital markets and general training | |
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Pure specific training | |
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Mixture of training types | |
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Oligopsonistic wage setting | |
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Asymmetric information | |
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Comparisons of predictions of these models | |
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A clarification of wage compression | |
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Is there under-provision of training? | |
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Is there an equity issue? | |
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Institutions | |
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Trade unions | |
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Otherwise competitive labour markets | |
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Imperfectly competitive labour markets | |
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Union concern over the wage-employment package | |
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Labour turnover | |
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Unions' use of training to control labour supply | |
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Selectivity and other issues | |
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Minimum wages | |
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Taxes and social security systems | |
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Product market competition and deregulation | |
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Schooling institutions | |
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Summary | |
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Unions | |
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Product market regulation | |
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Stylized Facts about Workplace Training | |
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Measurement issues | |
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The distribution of training across countries and regions | |
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Who pays for training? | |
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The distribution of training investments across firms | |
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Training differences across employees | |
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Summary | |
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Description of the Datasets and Supplementary Tables | |
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Training and Labour Market Institutions | |
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Previous empirical literature | |
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Unions and training | |
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Minimum wages and training | |
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Flexible labour contracts and training | |
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Product market competition, employment protection and training | |
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Schooling and training | |
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Training and pensions | |
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The data | |
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The empirical set-up | |
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The empirical results | |
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Summary | |
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The Costs and Benefits of Workplace Training | |
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Estimating the private returns to training | |
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Identification | |
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Rates of return | |
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Returns to employees | |
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The US evidence | |
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The European evidence | |
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Evidence from the ECHP | |
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Are the wage returns to training really high? | |
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Summary | |
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Returns to employers | |
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Training and growth | |
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Summary | |
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Is There Scope for Policy? | |
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Policy responses to market failures in training provision | |
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Under-provision: what is the evidence? | |
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Training and turnover | |
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Credit constraints | |
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Is there an equity issue? | |
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What do we learn from the empirical evidence? | |
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A political economy approach | |
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Policies offering financial support to workplace training | |
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Labour market policies and training | |
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Summary | |
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A Simple Political Economy Model of Training Subsidies | |
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Training Policies in Europe | |
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Regulation: pay-back clauses, time working accounts and apprenticeship contracts | |
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Co-financed schemes directed at firms | |
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Co-financed schemes directed to individuals | |
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References | |
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Comments | |
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Giuseppe Bertola | |
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Jorn-Steffen Pischke | |
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Final Remarks | |
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Index | |