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| Author: | Shintoyo, N. |
| Title: | Worker-financed versus firm-sponsored training: How are skilled workers supplied to the economy? |
| Journal: | Economica
2010 : JAN, VOL. 77:305, p. 110-127 |
| Index terms: | human capital training labour markets |
| Freeterms: | friction |
| Language: | eng |
| Abstract: | To evaluate which type of training might prevail in the economy, a search and matching model of general human capital is developed to contrast worker-financed training with firm-sponsored training. It is revealed that firm-sponsored training is more likely to occur when there is greater friction in the labour market, while worker-financed training prevails in a less frictional market. The model has multiple equilibria in labour markets with intermediate friction. It is also indicated, using comparative statistics exercises, that reductions in labour market friction result in less firm-sponsored training in the economy, but encourage worker-financed training. |
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