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The Impact of Aggregate and Sectoral Fluctuations on Training Decisions

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Author Info
Caponi, Vincenzo () (Ryerson University)
Kayahan, Cevat Burc () (affiliation not available)
Plesca, Miana () (University of Guelph)

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Abstract

So far the literature has found that the effect of macroeconomic fluctuations on training decisions is ambiguous. On the one hand, the opportunity cost to train is lower during downturns, and thus training should be counter-cyclical. On the other hand, a positive shock may be related to the adoption of new technologies and increased returns to skill, making training incidence pro-cyclical. Using the Canadian panel of Workplace and Employee Survey (WES) we find that (i) training moves counter-cyclical with the aggregate business cycle (more training during downturns), while at the same time (ii) the idiosyncratic sectoral shocks have a positive impact on training incidence (more training in sectors doing relatively better). This finding helps us understand training decisions by firms and has important theoretical and policy implications.

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Publisher Info
Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 4042.

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Date of creation: Feb 2009
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Handle: RePEc:iza:izadps:dp4042

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Related research
Keywords: business cycles; training;

Find related papers by JEL classification:
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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This page was last updated on 2009-11-30.

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