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Labour Contracts and Efficiency in On-the-Job Training

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  • Stevens, Margaret

Abstract

Two sources of inefficiency in the provision of on-the-job training are examined: an externality between firms which arises if there is imperfect competition between firms in the labor market, and allocation inefficiency due to asymmetry of information about the value of the trained worker. The second source of inefficiency may compound the first. Various contracts between the worker and the training firm are considered. Analysis of a simple example suggests that a contract in which the wage is chosen by the firm performs best, according to the criteria of reducing both types of inefficiency. Copyright 1994 by Royal Economic Society.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 104 (1994)
Issue (Month): 423 (March)
Pages: 408-19

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Handle: RePEc:ecj:econjl:v:104:y:1994:i:423:p:408-19

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Cited by:
  1. Pablo Casas-Arce, 2004. "Firm Provision of General Training and Specific Human Capital Acquisition," Economics Series Working Papers 198, University of Oxford, Department of Economics.
  2. Margaret Stevens, 2000. "Reconciling Theoretical and Empirical Human Capital Earnings Functions," Economics Series Working Papers 2000-W09, University of Oxford, Department of Economics.
  3. Malcomson, James M. & Maw, James W. & McCormick, Barry, 2000. "General training by firms, apprentice contracts, and public policy," Discussion Paper Series In Economics And Econometrics 0021, Economics Division, School of Social Sciences, University of Southampton.
  4. Yanick Labrie & Claude Montmarquette, 2005. "La formation qualifiante et transférable en milieu de travail," CIRANO Project Reports 2005rp-04, CIRANO.
  5. Statt, A.L., 1998. "Training and Displacement: is Employer Paid Training Firm-Specific?," Working Papers Series 9801, University of Stirling, Division of Economics.
  6. Stefania Zotteri, 2002. "Heterogeneity in Human Capital and Economic Growth," Temi di discussione (Economic working papers) 455, Bank of Italy, Economic Research and International Relations Area.
  7. Statt, A.L., 1998. "Great Prospects: Employer Provided Training as a Credible Screening Device," Working Papers Series 9802, University of Stirling, Division of Economics.
  8. Chatterji, Monojit, 2008. "Training hold up and social labour markets," Labour Economics, Elsevier, vol. 15(2), pages 202-214, April.
  9. Schlicht, Ekkehart, 1996. "Endogenous on-the-job training with moral hazard," Labour Economics, Elsevier, vol. 3(1), pages 81-92, August.
  10. Conti, Gabriella, 2005. "Training, productivity and wages in Italy," Labour Economics, Elsevier, vol. 12(4), pages 557-576, August.
  11. Kornelius Kraft & Julia Lang, 2013. "Profit Sharing and Training," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 75(6), pages 940-961, December.

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