This paper attempts a systematic examination of the significance of increasing returns for macroeconomic theory. Two main questions are addressed: (i) What are the implications for the construction of macromodels of the assumption of increasing returns? and (ii) What are the implications for the...

Using data from the National Longitudinal Survey of Youth from 1987 to 1992, the determinants of training and the impact of training on job turnover are examined for young private sector workers in the United States. It is found that the receipt of company training is positively correlated with...