We consider two aspects of the link between apprenticeship and large employers in Britain: the contributions of apprenticeship to employers' supplies of intermediate skills and of employers to the Advanced Apprenticeship programme. Evidence is taken from interviews with managers in twenty-nine...

This paper considers whether listed companies with dispersed ownership invest less in training than do other firms, as part of a short-termist stance caused by pressure from the stock market. An analytical framework that supports the proposition involves three factors: high agency costs between...

Although interest in monopsonistic influences on labour market outcomes has revived in recent years, only a few empirical studies provide direct evidence on it. This paper analyses empirically the effect of monopsony power on pay structure, using a direct measure of labour market 'thinness'. We...

This paper investigates interindustry patterns of youth employment in the United States and six Western European economies. Statistical analysis is conducted on an institutional model that relates youth employment share to two main aspects of national pay structures: the degree of labor-market...

In this clinical study, we examine the winnerís curse hypothesis that rational agents, in an auction setting, will impute an inverse relation between bids and price uncertainty and between bids and the level of competition. To accomplish same, we avail of a unique data set of 548 successful...

This paper examines the costs borne by financial institutions, merchants, and consumers in making, facilitating and accepting consumer-to-business payments. It examines the resource costs incurred by these sectors, how these have changed since 2006, and how fees and other transfers determine...

Although trainee pay is central to the economics of work-based training, institutionalists have paid it little attention, while economists typically assume that it is set by market clearing. We document large differences in the pay of metalworking apprentices in three countries: relative to the...