This paper shows that investment inhuman capital may be another reason for incentive wages in addition to "retain, recruit and motivate". It is shown under which circumstances firms pay wages in excess of the market clearing level in order to induce workers to invest. Investment in human capital...

Recent empirical work shows that ongoing international financial integration facilitatescross-country consumption risk sharing. While these studies employ absolute measures toaccount for a country''s integration in international capital markets, we devise a relativemeasure that captures the...

Der technologische Wandel erhöht den Weiterbildungsbedarf aller Beschäftigten, die in qualifizierten Arbeitsplätzen tätig sein wollen. Dieser Beitrag identifiziert die für die Weiterbildung anfallenden Kosten als eine der treibenden Kräfte für Lohnspreizung und Arbeitslosigkeit in Zeiten...

This article investigates the effectiveness of an employment programme exclusively run by a private sector firm in order to find out whether such a programme can be beneficial to both the participating individuals and the private firm. To answer these questions, we use a unique dataset on a...