We expand Acemoglu and Pischke's seminal model of training in imperfect labor markets by including the system of collective wage bargaining and the components of firms' training costs. Thus we can adapt their model to institutional changes that occurred since the 1990s. The model and the...

Humankapital, zweiter Bildungsweg, Karriereunterbrechung, Mitgliedschaft, sozio-ökonomische Ergebnisse. - Human capital, second educational pathway, career interruption, membership, socio-economic outcomes

We study life-cycle educational transitions in an education system characterized by early tracking and institutionalized branches of academic and vocational training but with the possibility to revise earlier decisions at later stages. Our model covers all major transitions ranging from...