G2TT
来源类型Discussion paper
规范类型论文
来源IDDP2762
DP2762 New Extreme-Value Dependence Measures and Finance Applications
Michael Rockinger; Ser-Huang Poon; Jonathan Tawn
发表日期2001-04-24
出版年2001
语种英语
摘要This Paper evaluates an Austrian manpower training programme, which is highly innovative in its content and financing - and could therefore serve as a role model for other programmes. In the late 1980s privatization and downsizing of nationalized steel firms have led to large-scale redundancies. A special Steel Foundation was created as part of a social plan. This Foundation acted like an independent training centre, where displaced workers would spend relatively long training periods (sometimes several years), obtaining personality and orientation training, as well as formal education. The last step of the integrative program was placement assistance as well as assistance for creating one?s own business. The Foundation was financed by (higher) contributions from unemployment insurance funds, by the previous firms themselves, as well as by a collectively-bargained special tax on the remaining workers in the Steel Firms. Moreover the trainees themselves would have to support the Foundation by depositing their redundancy payments. In evaluating post-foundation economic performance I use days worked and wage growth. As a control group I take all other displaced workers from the firms who formed the Foundation, using Instrumental Variables to solve the selection problem. The results show considerable wage gains - even for a period of five years after leaving the Foundation - as well as improved employment prospects. Finally, a cost-benefit analysis is performed to assess the long-term success of the Foundation.
主题Labour Economics ; Public Economics
关键词Labour market programmes Evaluation Cost-benefit analysis Instrumental variables
URLhttps://cepr.org/publications/dp2762
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/531822
推荐引用方式
GB/T 7714
Michael Rockinger,Ser-Huang Poon,Jonathan Tawn. DP2762 New Extreme-Value Dependence Measures and Finance Applications. 2001.
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