It is standard in the literature on training to use wages as a sufficient statistic for productivity. This paper … an increase in hourly wages of about 0.3%. We also show evidence using individual level datasets that is suggestive of …

Force Survey. This is combined with complementary industry-level data sources on value added, wages, labour and capital. We …There is a vast empirical literature of the effects of training on wages that are taken as an indirect measure of … productivity) is low. Secondly, our estimates of the effects of training on wages are about half the size of the effects on …