AbstractThis paper introduces two complementary models of firm-specific training: an informational model and a productivity-enhancement model. In both models, market provision of firm-specific training is inefficient. However, the nature of the inefficiency depends on the balance between the two key components of training, namely productivity enhancement and employee evaluation. In the informational model, training results in a proportionate increase in productivity enhancement and employee valuation, and training is underprovided by the market. In the productivity-enhancement model, training results in an increase in productivity enhancement but no change in employee evaluation, and training is overprovided by the market. In both models, turnover is inefficiently low
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Bibliographic InfoPaper provided by Society for Economic Dynamics in its series 2004 Meeting Papers with number 62.
Date of creation: 2004
Date of revision:
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Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
Web page: http://www.EconomicDynamics.org/society.htm
More information through EDIRC
Learning; Firm-Specific Human Capital; Training;
Other versions of this item:
- Felli, Leonardo & Harris, Christopher J, 2004. "Firm-Specific Training," CEPR Discussion Papers 4580, C.E.P.R. Discussion Papers.
- Leonardo Felli & Christopher Harris, 2004. "Firm-Specific Training," Economics Working Papers 0038, Institute for Advanced Study, School of Social Science.
- Leonardo Felli & Christopher Harris, 2004. "Firm-Specific Training," STICERD - Theoretical Economics Paper Series /2004/473, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Leonardo Felli & Christopher Harris, 2005. "Firm-Specific Training," Levine's Bibliography 122247000000000839, UCLA Department of Economics.
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
- J63 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Turnover; Vacancies; Layoffs
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