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The paper examines the optimal level of training investment when trained workers are mobile, wage contracts are time-consistent, and training comprises both specific and general skills. It is shown that, in the absence of a social planner, the firm has ex-post monopsonistic power that drives...
Persistent link: https://www.econbiz.de/10005666579
It is well known that workers in Europe appear to receive more firm-provided general training than their counterparts in the United States. Moreover, there is considerable evidence that firms, in many cases, pay for the general training, contrary to the predictions of Becker (1964). In important...
Persistent link: https://www.econbiz.de/10005661519
This paper examines the impact of technological innovation on wages using a panel of UK manufacturing firms. We utilize …. Innovating firms are found to have higher average wages, but rival innovation tends to depress own wages. This appears consistent … with a model where wages are partly determined by a sharing in the rents generated by innovation. In other words innovation …
Persistent link: https://www.econbiz.de/10005791279