Beyond Becker: Training in Imperfect Labor Markets
National Bureau of Economic ResearchPublished 1 September 1998Open access
Daron Acemoğlu, Jörn‐Steffen Pischke
Citations204
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Abstract
In this paper, we survey non-competitive theories of training. With competitive labor markets, firms never pay for investments in general training, whereas when labor markets are imperfect, firm-sponsored training arises as an equilibrium phenomenon. We discuss a variety of evidence which support the predictions of non-competitive theories, and we draw some tentative policy conclusions from these models.
Keywords
Economics, Econometrics and Finance