Testing Some Predictions of Human Capital Theory: New Training Evidence from Britain
We confront the predictions of various theories with new training data from the British Household Panel Survey. We find that employer-financed training is associated with significantly higher wages at current and future firms, with a larger impact in future firms. This is consistent with human capital theory with credit constraints and with the new training literature assuming imperfectly competitive labor markets. © 2005 President and Fellows of Harvard College and the Massachusetts Institute of Technology.
Year of publication: |
2005
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Authors: | Booth, Alison L. ; Bryan, Mark L. |
Published in: |
The Review of Economics and Statistics. - MIT Press. - Vol. 87.2005, 2, p. 391-394
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Publisher: |
MIT Press |
Saved in:
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