This paper is an econometric analysis of the on-the-job training (OJT) decisions of a group of white American males during 1975. The data are obtained from the Panel Study of Income Dynamics, which asked a very careful series of questions concerning the individual's OJT status. Each individual's...

This paper studies the forces which determine how diversity at a firm evolves over time. We consider a dynamic model o a single firm with two levels of employees, the entry level and the upper level. In each period, the firm selects a subset of the entry-level workers for promotion to the upper...

Can allowing foreign participation in the banking sector increase real output, despite the imperfectly competitive nature of the industry? Using a new model of heterogeneous, imperfectly competitive lenders and a simple search process, we show how endogenous markups (the net interest margin...

The recent banking crisis highlights the challenges faced in credit intermediation. New online peer-to-peer lending markets offer opportunities to examine lending models that primarily cater to small borrowers and that generate more types of information on which to screen. This paper evaluates...

This paper estimates the dynamic returns to job training. We posit a dynamic-discrete choice model of sequential training participation, where choices and earnings depend on observed and unobserved characteristics.We define treatment effects, including policy relevant parameters, and link them...

We study how transition has affected human resource policies of a Russian heavy industry firm. Our data set contains personnel files of 1538 white-collar workers over 17 years: from 1984 to 2000. We find career paths before the first year of Gaidar's reforms, 1992, when Russian transition to a...

The Clinton administration has made job training and skill upgrading a major priority. Secretary of Labor Robert Reich has already presented a bold program for skill enhancement drawing on a new consensus in certain circles of the social science and policy communities about the need to upgrade...

This paper utilizes data on the personnel policies and economic characteristics of businesses in the manufacturing sector to study the relationship between employee training and labor productivity. The major finding is that businesses that were operating below their expected labor productivity...

Although economic models of training decisions are framed in terms of a company's calculation of the costs and benefits of such training, empirical work has never been able to test this model directly on company behavior. This paper utilizes a unique database to analyze the determinants of the...