In this paper an ordered response Tobit model is specified to determine the effects of absolute wages and relative overpayment on satisfaction with earnings. The joint estimations of wages and satisfaction with earnings allows us to disentangle the effects of relative and absolute wages on...

In this paper we develop a method to estimate the rate of depreciation of human capital. The model is estimated on data for Great Britain and the Netherlands. It is found that the rate of depreciation of education is 11-17% per year.

In this paper we use data on individual productivity ratings to analyse the productivity and wage effects of enterprise-related training. The average productivity growth of training is 16%, while the average productivity difference between trained and nontrained workers is 8%. The average wage...