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 …