The link between skill acquisition and earnings is one of the cornerstones of labour economics. The conventional view is that, all else being equal, workers with relatively higher stocks of embedded skills will receive a relatively higher return when supplying labour. The link between skills and...

This paper proposes an asymmetric model within which consumer credit facilitates both consumption smoothing and rational habit modification. The model is applied to US data using a GMM approach. The evidence suggests that new credit can predict short-run changes in consumption and has assisted...

In this paper, we review what we know about the effects of over- and undereducation on earnings outcomes. We then discuss the role of training in modifying these outcomes. Finally, we draw some lessons for public policy from our findings

This paper utilises Australian data to evaluate the effect of firm-provided job training on labour income. It also examines whether training can shed light on the effects of skill-job mismatch. We employ a trivariate model to account for firm selection bias in training and worker selection in...