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...

We analyse the efficiency of the labour market outcome in a competitive search equilibrium model with endogenous turnover and endogenous general human capital formation. We show that search frictions do not distort training decisions if firms and their employees are able to coordinate...

On daily basis, we make a number of decision regarding purchase, saving, investment and financing. These decisions are influenced by a number of factors or elements. This paper shows the different processes that, consciously or unconsciously, influence an individual's decision making process. We...