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Testing Some Predictions of Human Capital Theory: New Training Evidence from Britain

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Author Info
Alison L. Booth (Australian National University)
Mark L. Bryan (University of Essex)

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Abstract

We confront the predictions of various theories with new training data from the British Household Panel Survey. We find that employer-financed training is associated with significantly higher wages at current and future firms, with a larger impact in future firms. This is consistent with human capital theory with credit constraints and with the new training literature assuming imperfectly competitive labor markets. Copyright (c) 2005 President and Fellows of Harvard College and the Massachusetts Institute of Technology.

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File URL: http://www.mitpressjournals.org/doi/pdfplus/10.1162/0034653053970357
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Publisher Info
Article provided by MIT Press in its journal Review of Economics and Statistics.

Volume (Year): 87 (2005)
Issue (Month): 2 (06)
Pages: 391-394
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Handle: RePEc:tpr:restat:v:87:y:2005:i:2:p:391-394

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  1. Alison Booth & Mark L. Bryan, 2006. "Training, Minimum Wages and the Earnings Distribution," CEPR Discussion Papers 537, Centre for Economic Policy Research, Research School of Social Sciences, Australian National University. [Downloadable!]
  2. John S Heywood & Colin Green, 2007. "Does profit sharing increase training by reducing turnover?," Working Papers 005113, Lancaster University Management School, Economics Department. [Downloadable!]
  3. Lixin Cai & C. Jeffrey Waddoups, 2009. "The Role of Unobserved Heterogeneity and On-the-Job Training in the Employer Size-Wage Effect: Evidence from Australia," Working Papers 0915, University of Nevada, Las Vegas , Department of Economics. [Downloadable!]
  4. Blázquez, Maite & Ramos, Jose, 2008. "Recent Investments in Human Capital and its Effect on the Chances of Escaping from Low-Paid Jobs: The Spanish Case," Working Papers in Economic Theory 2008/03, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History). [Downloadable!]
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  5. Gielen, A. C., 2007. "Performance Pay, Training and Labor Mobility," Discussion Paper 2007-48, Tilburg University, Center for Economic Research. [Downloadable!]
    Other versions:
  6. Andrea Bassanini, 2006. "Training, wages and employment security: an empirical analysis on European data," Applied Economics Letters, Taylor and Francis Journals, vol. 13(8), pages 523-527, June. [Downloadable!] (restricted)
  7. Nadège Marchand & Claude Montmarquette, 2008. "Training Without Certification: An Experimental Study," CIRANO Working Papers 2008s-01, CIRANO. [Downloadable!]
    Other versions:
  8. Alison Booth & Pamela Katic, 2008. "Men at Work in a Land Down-under," CEPR Discussion Papers 586, Centre for Economic Policy Research, Research School of Social Sciences, Australian National University. [Downloadable!]
  9. Andrea Bassanini & Giorgio Brunello, 2008. "Is training more frequent when the wage premium is smaller? Evidence from the European Community Household Panel," Post-Print halshs-00214192_v1, HAL. [Downloadable!]
    Other versions:
  10. Filipe Almeida-Santos & Karen Mumford, 2006. "Employee Training, Wage Dispersion and Equality in Britain," IZA Discussion Papers 2276, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  11. Muehler, Grit & Beckmann, Michael & Schauenberg, Bernd, 2007. "The Returns to Continuous Training in Germany: New Evidence from Propensity Score Matching Estimators," ZEW Discussion Papers 07-048, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  12. Andrea Bassanini & Alison Booth & Giorgio Brunello & Maria De Paola & Edwin Leuven, 2005. "Workplace Training in Europe," IZA Discussion Papers 1640, Institute for the Study of Labor (IZA). [Downloadable!]
  13. Christian Dustmann & Uta Schönberg, 2007. "Apprenticeship Training and Commitment to Training Provision," Economics of Education Working Paper Series 0032, University of Zurich, Institute for Strategy and Business Economics (ISU). [Downloadable!]
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