Educational resources distributed via the Internet are rapidly proliferating. One prominent concern associated with these potentially transformative developments is that, as many of the leading technologies of the last several decades have been, these new sweeping technological changes will be...

Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers because they prevent these workers from taking wage cuts necessary to finance training. In contrast, in noncompetitive labor markets, minimum wages tend to increase training of...

External certification of workplace skills obtained through on-the-job training is widespread in many countries. This may indicate that training is financed by workers, and certification serves to assure the quality of the training offered by the firm. However, other evidence shows that general...

In the human capital model with perfect labor markets, firms never invest in general skills and all costs of general training are borne by workers. When labor market frictions compress the structure of wages, firms may pay for these investments. The distortion in the wage structure turns...

Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers because they prevent these workers from taking wage cuts necessary to finance training. In contrast, in noncompetitive labor markets, minimum wages tend to increase training of...

Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers because they prevent these workers from taking wage cuts necessary to finance training. In contrast, in noncompetitive labor markets, minimum wages tend to increase training of...