Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers … because they prevent these workers from taking wage cuts necessary to finance training. In contrast, in noncompetitive labor … markets, minimum wages tend to increase training of affected workers because they induce firms to train their unskilled …

Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers … because they prevent these workers from taking wage cuts necessary to finance training. In contrast, in noncompetitive labor … markets, minimum wages tend to increase training of affected workers because they induce firms to train their unskilled …

Becker?s theory of human capital predicts that minimum wages should reduce training investments for affected workers … because they prevent these workers from taking wage cuts necessary to finance training. In contrast, in noncompetitive labor … markets, minimum wages tend to increase training of affected workers because they induce firms to train their unskilled …

We develop a simple search equilibrium model of workplace training and education based on two features. First …, investment in education improves job-related learning skills and reduces training costs burdened by firms. Second, firms with … vacant skilled job slots can choose between recruitment from the market and training. Compared to Germany and Japan, the US …

We develop a simple search equilibrium model of workplace training and education based on two features. First …, investment in education improves job-related learning skills and reduces training costs burdened by firms. Second, firms with … vacant skilled job slots can choose between recruitment from the market and training. Compared to Germany and Japan, the US …

We develop a simple search equilibrium model of workplace training and education based on two features. First …, investment in education improves job-related learning skills and reduces training costs burdened by firms. Second, firms with … vacant skilled job slots can choose between recruitment from the market and training. Compared to Germany and Japan, the US …