Dearden, Lorraine; Reed, Howard; Reenen, John Van - Centre for Economic Performance, LSE - 2005
It is standard in the literature on training to use wages as a sufficient statistic for productivity. But there are … many reasons why wages and productivity may diverge. This paper is part of a smaller literature on the effects of work … training, productivity and wages. Using a variety of econometric estimation techniques (including system GMM) we find that …