Education and training for productive employment play a crucial role in the social and economic plans of a developing country like the Philippines. Technical and vocational education and training (TVET) in the country has been viewed as a tool to help equip the people with the necessary skills...

In this paper, we consider economies in which agents are privately informed about their skills, which are evolving stochastically over time. We require agents' preferences to be weakly separable between the lifetime paths of consumption and labor. However, we allow for intertemporal...