The rise in the productivity of inexperienced young workers suggests a positive partial equilibrium effect of youth training programs on employment. However, in a general equilibrium context, displacement effects that impact other groups of workers could also arise. We build a directed search model to study the unintended displacement effects of youth training programs. We calibrate the model to match data from the US labor market. The model is then used to simulate a policy experiment that resembles a training program that raises the productivity of a targeted group of low-skilled and inexperienced agents. Our counterfactual analysis shows that the policy indeed triggers displacement effects. Consequently, these unintended displacement effects must be taken into account in the evaluation of youth training programs.

中文翻译：

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定向搜索模型中青年培训计划的意外位移效应

缺乏经验的青年工人生产力的提高表明青年培训计划对就业有积极的局部均衡效应。然而，在一般均衡背景下，也会出现影响其他工人群体的流离失所效应。我们建立了一个定向搜索模型来研究青年培训计划的意外位移效应。我们校准模型以匹配来自美国劳动力市场的数据。然后使用该模型来模拟类似于培训计划的政策实验，该计划提高了低技能和缺乏经验的代理目标群体的生产力。我们的反事实分析表明，该政策确实引发了置换效应。因此，在评估青年培训计划时必须考虑这些意外的流离失所影响。