| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP3475
|
| DP3475 Financing and Advising: Optimal Financial Contracts with Venture Capitalists |
| Catherine Casamatta
|
| 发表日期 | 2002-07-20
|
| 出版年 | 2002
|
| 语种 | 英语
|
| 摘要 | This Paper analyses the labour mobility and human capital accumulation of male immigrants who moved from the former Soviet Union to Israel. We formulate an estimable dynamic choice model for employment and training in blue and white-collar occupations, where the labour market randomly offered opportunities are affected by past choices. The estimated model well fits the observed patterns of the fast decrease in unemployment as immigrants first find blue-collar jobs and attend training, followed by a gradual movement to white-collar occupations. The estimated rates of return to local training, local experience and local language are very high, but imported skills have zero (conditional) return. Furthermore, the welfare gain from the impact of training on job offer probabilities is larger than its effect on wages. Due to low job offer rates, the realized rate of return from white-collar training is relatively low and takes time. As a result, the annual aggregate wage growth, due to the availability of training programs, increases with time in Israel to 1.4% in the fifth year. |
| 主题 | Labour Economics
|
| 关键词 | Immigration
Occupation
Training
Unemployment
Transitions
Welfare
|
| URL | https://cepr.org/publications/dp3475
|
| 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/532492
|
推荐引用方式
GB/T 7714 |
Catherine Casamatta. DP3475 Financing and Advising: Optimal Financial Contracts with Venture Capitalists. 2002.
|
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