Wage differentials between skill groups are larger in the US than in most western European countries. Especially low skilled workers are relatively worse off in the US than elsewhere. A simple demand and supply explanation for this fact would be that relative net supply of low skilled workers in...

This survey organizes and summarizes existing theoretical work on private sector training. The theoretical models focus on investment efficiency, finance and turnover. Recent developments in the on-the-job training literature are characterized by strategic interaction between employers and...