This study compares the determinants of productivity and wages at both firm and worker level. In the firm-level analysis, we follow Hellerstein, Neumark and Troske (1999) and provide improved estimates based on an extended set of covariates including the intensity of firm-provided training. In...

Purpose – The purpose of this paper is to investigate the extent to which the productivity gains associated with workplace training are shared by both the firms concerned and their workers. The approach is both theoretical and empirical as an explicit formula for the internal rate of return...

This paper discusses the role played by internal restructuring vis-à-vis external restructuring in industry productivity growth, arguing that the contribution of these two components is expected to be sensitive to the economic cycle. The study describes gross flows (job and output) over a...

In most studies in the literature only the participation in a single programme versus non-participation is evaluated. This approach, however, does not address the needs of a comprehensive evaluation of an active public intervention in the labour market. Active labour market programmes, like the...

Purpose – The purpose of this paper is to investigate the extent to which the productivity gains associated with workplace training are shared by both the firms concerned and their workers. The approach is both theoretical and empirical as an explicit formula for the internal rate of return...

Before the subsequent process of economic transition from a socialist to a market economy, over 80% of arable agricultural land in Serbia has been in private hands. State and social ownership, before privatization, existed in large agricultural complexes. The right of private ownership of...

The development of SMEs is very sensitive to the overall economic situation of every country such as the dynamics of economic growth, stability of the local currency, supply and demand on the home and foreign markets and the state’s micro-economic policy. This paper discusses the SME...

During the global economic and financial crisis, namely in the 2008-2009 period, the National Bank of Serbia kept the key policy rate at an unacceptably high level compared to EU member countries. The rationale behind implementation of such monetary policy were attempts to control fluctuations...