Should Firms be Required to Pay for Vocational Training?
AbstractThis paper constructs a model of a training market affected by both problems, and examines the rationale for training levy schemes, intended to make firms increase investment in vocational training. It is shown that regulating firms, or equivalently financing a subsidy through taxation of profits, can achieve a Pareto improvement irrespective of the cause of the under-investment. However, when the levy is assessed as a proportion of wages the effect is to address capital market imperfections only.
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Bibliographic InfoPaper provided by Economics Group, Nuffield College, University of Oxford in its series Economics Papers with number 1999-w4.
Length: 39 pages
Date of creation: 1999
Date of revision:
Contact details of provider:
Web page: http://www.nuff.ox.ac.uk/economics/
LABOUR MARKET ; TRAINING PROGRAMMES;
Other versions of this item:
- Stevens, Margaret, 2001. "Should Firms Be Required to Pay for Vocational Training?," Economic Journal, Royal Economic Society, vol. 111(473), pages 485-505, July.
- Stevens, Margaret, 1999. "Should Firms be Required to Pay for Vocational Training?," CEPR Discussion Papers 2099, C.E.P.R. Discussion Papers.
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
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- Jones, Ian, 1988. "An Evaluation of YTS," Oxford Review of Economic Policy, Oxford University Press, vol. 4(3), pages 54-71, Autumn.
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