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Who pays for job training?

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  • Anurag Banerjee

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  • Parantap Basu

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    Abstract

    This paper addresses a puzzle in the UK labour market. Why is not there enough investment in job training when there is a high skill premium? We model this as a coordination game between firms and workers. Using a social planning model as a baseline, the paper demonstrates that while it is socially beneficial to invest in job training, the private sector may fail to internalize these benefits in a wide range of economies. The chance of this coordination failure is greater in economies with a higher inequality in the skill distribution and a higher rate of time preference.Creation-Date: 2008-11

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    File URL: http://www.st-andrews.ac.uk/economics/CDMA/papers/cp0802.pdf
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    Bibliographic Info

    Paper provided by Centre for Dynamic Macroeconomic Analysis in its series CDMA Conference Paper Series with number 0802.

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    Handle: RePEc:san:cdmacp:0802

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    Postal: Department of Economics, University of St. Andrews, Fife KY16 9AL
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    1. Espen R. Moen & �sa Rosén, 2004. "Does Poaching Distort Training?," Review of Economic Studies, Oxford University Press, vol. 71(4), pages 1143-1162.
    2. Moen, Espen R & Rosen, Asa, 2002. "Does Poaching Distort Training?," CEPR Discussion Papers, C.E.P.R. Discussion Papers 3468, C.E.P.R. Discussion Papers.
    3. Haskel, Jonathan & Martin, Christopher, 2001. "Technology, Wages, and Skill Shortages: Evidence from UK Micro Data," Oxford Economic Papers, Oxford University Press, vol. 53(4), pages 642-58, October.
    4. Lars Peter Hansen & James J. Heckman, 1996. "The Empirical Foundations of Calibration," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 10(1), pages 87-104, Winter.
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