Youth labour markets in Spain: education, training and crowding-out

The stylised facts describing the evolution of youth labour markets in Spain can be characterised as a "high-skill, bad-job trap" where higher educated workers end up in semi or unskilled entry jobs while crowding out lower educated workers from that type of job. A simple matching model with multiple contracting regimes is used to explain how a less tigher skilled labour market can be lead to crowding-out of lower educated worker and less on-the-jobtraining