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It has been argued that vocational education facilitates the school-to-work transition but reduces later adaptability to changing environments. Using the recent international PIAAC data, we confirm such a trade-off over ...Read more...
Franziska Hampf and Ludger Woessmann
23 November 2016
A simple model of process innovation is proposed, where firms learn about their ideal production process by making prototypes. We build around this a dynamic general equilibrium model, and derive conditions under which d...Read more...
Gilles Duranton and Diego Puga