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Booth, Alison L; Francesconi, Marco; Zoega, Gylfi - C.E.P.R. Discussion Papers - 1999

We investigate two dimensions of investment in general human capital on-the-job: the number of workers trained and the intensity of training for each worker. In the benchmark case, we consider wage and training decisions made by firms in an imperfectly competitive labour market. The benchmark...

Persistent link: https://www.econbiz.de/10005498000

Wages, Experience and Seniority

Dustmann, Christian; Meghir, Costas - C.E.P.R. Discussion Papers - 1999

This paper develops and estimates a human capital model of wage growth based on learning by doing. Learning by doing rates are assumed to be heterogeneous and firms offer different career structures in terms of the rate of acquisition of firm specific human capital. The model is estimated using...

Persistent link: https://www.econbiz.de/10005136649

The Earnings Dynamics of Immigrant Labour

Schmidt, Christoph M - C.E.P.R. Discussion Papers - 1993

Empirical evidence on the labour market performance of immigrants shows that migrant workers suffer from an initial earnings disadvantage compared to observationally equivalent native workers, but that their subsequent earnings tend to increase faster than native earnings. Economists usually try...

Persistent link: https://www.econbiz.de/10005067590

Training and Unions

Booth, Alison L; Chatterji, Monojit - C.E.P.R. Discussion Papers - 1997

has ex-post monopsonistic power that drives trained workers’ wages below the socially-optimal level. The emergence of …

Persistent link: https://www.econbiz.de/10005666579

Quitting Externalities, Employment Cyclicality and Firing Costs

Booth, Alison L; Zoega, Gylfi - C.E.P.R. Discussion Papers - 1994

This paper derives a model in which workers have firm-specific and industry-specific skills, and in each period there is a non-zero probability that a worker quits. This makes the private discount factor, used by firms in making decisions about hiring and training new workers and firing existing...

Persistent link: https://www.econbiz.de/10005124399

The Demise of Investment Banking Partnerships: Theory and Evidence

Morrison, Alan; Wilhelm Jr, William J - C.E.P.R. Discussion Papers - 2005

Until 1970, the New York Stock Exchange prohibited public incorporation of member firms. After the rules were relaxed to allow joint stock firm membership, investment-banking concerns organized as partnerships or closely-held private corporations went public in waves, with Goldman Sachs (1999)...

Persistent link: https://www.econbiz.de/10005656352

The Structure of Wages and Investment in General Training

Acemoglu, Daron; Pischke, Jörn-Steffen - C.E.P.R. Discussion Papers - 1998

frictions compress the structure of wages, firms may invest in the general skills of their employees. The reason is that the … institutions, such as minimum wages and union wage setting, are crucial in shaping the wage structure, and thus have an important …

Persistent link: https://www.econbiz.de/10005656301

Minimum Wages and On-the-Job Training

Acemoglu, Daron; Pischke, Jörn-Steffen - C.E.P.R. Discussion Papers - 1999

Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers … perfectly competitive labour markets underlying this theory is relaxed, minimum wages can increase training of affected workers … evidence that minimum wages reduce training. These results are consistent with our model, but difficult to reconcile with the …

Persistent link: https://www.econbiz.de/10005661835

Returns to Human Capital Under the Communist Wage Grid and During the Transition to a Market Economy

Münich, Daniel; Svejnar, Jan; Terrell, Katherine - C.E.P.R. Discussion Papers - 1999

Under communism, workers had their wages set according to a centrally-determined wage grid. In this paper we use new …

Persistent link: https://www.econbiz.de/10005666520

Do Markets Favour Women's Human Capital More Than Planners?

Münich, Daniel; Svejnar, Jan; Terrell, Katherine - C.E.P.R. Discussion Papers - 2004

Using micro data on women in the Czech Republic, we compare returns to various measures of human capital at the end of communism (1989), in mid-transition (1996) and in late/post-transition (2002). We show: dramatic increases in returns to education from 1989 to 1996 but no change from 1996 to 2002;...

Persistent link: https://www.econbiz.de/10005666862