Uncertainty as to returns plays a crucial role in plant-level investment decision making. The same also holds true for human capital investments such as further training for employees. Exploring this training relationship using plant-level data, we isolate the impact of uncertainty....

This paper argues that the German system of vocational training is undergoing subtle but significant changes from a mainly collectivist system to a more segmentalist one. To make the argument, the paper first discusses the two logics of collectivism and segmentalism, and how the German system is...