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Recovery not fast enough? Notes on speeding up

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  • Rossana Patron

Abstract

Economy-wide losses occur due to sluggish factor adjustment: these notes focus on the role of training in economic restructuring, and provide a novel approach to assess the value of human resources management policies. As training raises mobility it speeds up reallocation, also with favourable distributional impacts; it is argued that these effects reveal the true value of training. Numerical exercises show that policies towards training incentives and preparedness can make a significant contribution towards faster economic growth and lower long term losses from sluggish adjustment. Also, the relevance of improving the too-frequent poor effectiveness of training programs is made apparent.

Suggested Citation

  • Rossana Patron, 2013. "Recovery not fast enough? Notes on speeding up," Discussion Papers 13/06, University of Nottingham, School of Economics.
    • Handle: RePEc:not:notecp:13/06
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    References listed on IDEAS

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    More about this item

    Keywords

    training; labour mobility; restructuring; development JEL codes: J24; O15; F16; F17;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation

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