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In the standard model of human capital with perfect labor markets general training. When labor market frictions compress the structure of wages in the general skills of their employees. The reason is that the distortion in the wage structure" turn technologically' general skills into specific'...
Persistent link: https://www.econbiz.de/10013321573
The development prospects of a poor country depend in part on its capacity for innovation. The productivity of its … innovators depends in turn on their access to technological knowledge. The emigration of highly skilled individuals weakens local … knowledge networks (brain drain), but may also help remaining innovators access valuable knowledge accumulated abroad (brain …
Persistent link: https://www.econbiz.de/10012751076