Moen, Espen R; Rosén, Åsa - C.E.P.R. Discussion Papers - 2002
turnover and endogenous general human capital formation. We show that search frictions do not distort training decisions if … efficient coordination devices there is too much turnover and too little investments in general training. Nonetheless, the … number of training firms and the amount of training provided are constrained optimal, and training subsidies therefore reduce …