This paper tests the hypothesis that unions, through imposing wage floors that lead to wage compression, increase on-the-job training. Our analysis focuses on Germany which provides an interesting context to test this hypothesis, due to its large scale apprenticeship programme and its collective...

Results of earlier empirical research on whether survey data on forecasts of interest rates exhibit signs of forecaster herding are mixed. We reconsider the question of forecaster herding using a large international data set of interest-rate forecasts. We do not find much evidence of forecaster...