Acemoglu, Daron; Pischke, Jörn-Steffen - C.E.P.R. Discussion Papers - 1996
This paper offers and tests a theory of training whereby workers do not pay for general training they receive. The … firm to provide training. We show that the model can lead to multiple equilibria. In one equilibrium quits are endogenously … high and as a result employers have limited monopsony power and are willing to supply only little training, while in …