There is a vast empirical literature on the effects of training on wages that are taken as an indirect measure of … productivity. This paper is part of a smaller literature on the effects of training on direct measures of industrial productivity …. We analyse a panel of British industries between 1983 and 1996. Training information (and other individual productivity …

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 …-post monopsonistic power in wage determination. Local union-firm wage bargaining ensures that the post-training wage is set sufficiently …

terms of transaction costs, the US pay on average higher search/hiring costs in the labour market, and smaller training …

training and firms provide insufficient skilled vacancies. In particular, the paper argues that in countries where a large … paper examines the need for and effectiveness of training policy, and provides a possible explanation for why Western …