This paper analyses the pattern of training participation in Italy. Employing a new survey conducted on a large sample of individuals, we develop a model of bilateral training choices. In order to distinguish between workers and employers choices, we estimate a structural bivariate probit model...

According to human capital theory training underinvestment can arise in case of imperfect competition in the labour markets and when workers are credit constrained. In both cases training policies have to be considered in order to increase the amount of training and to alleviate the consequences...