General Human Capital and Employment Adjustment in the Great Depression: Apprentices and Journeymen in UK Engineering
The relationship between training and firm-level employment adjustment given an unanticipated fall in product demand has been central to human capital theory. The most cataclysmic negative output shock occurred in 1929/30. At this time, easily the most important source of United Kingdom general training was the apprenticeship system. Using data collected by the Engineering Employers' Federation (EEF), this paper examines the impact of the Great Depression on numbers of apprentices and skilled journeymen. Statistics cover eight skilled engineering occupations in 38 local labour markets over the period 1928- 1938. Relative employment adjustment responses of apprentices and journeymen accord well with general human capital arguments.
|Date of creation:||Jun 2003|
|Date of revision:|
|Publication status:||published in: Oxford Economic Papers, 2005, 57 (1), 169-189|
|Contact details of provider:|| Postal: |
Phone: +49 228 3894 223
Fax: +49 228 3894 180
Web page: http://www.iza.org
|Order Information:|| Postal: IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bean, C., 1989.
"Endogenous Growth And The Procyclical Behaviour Of Productivity,"
369, London School of Economics - Centre for Labour Economics.
- Bean, Charles R., 1990. "Endogenous growth and the procyclical behaviour of productivity," European Economic Review, Elsevier, vol. 34(2-3), pages 355-363, May.
- Ben S. Bernanke & James L. Powell, 1984.
"The Cyclical Behavior of Industrial Labor Markets: A Comparison of the Pre-War and Post-War Eras,"
NBER Working Papers
1376, National Bureau of Economic Research, Inc.
- Ben S. Bernanke & James Powell, 1986. "The Cyclical Behavior of Industrial Labor Markets: A Comparison of the Prewar and Postwar Eras," NBER Chapters, in: The American Business Cycle: Continuity and Change, pages 583-638 National Bureau of Economic Research, Inc.
- Saint-Paul, G., 1992.
"Productivity growth and the Structure of the Business Cycle,"
DELTA Working Papers
92-16, DELTA (Ecole normale supérieure).
- Saint-Paul, Gilles, 1993. "Productivity growth and the structure of the business cycle," European Economic Review, Elsevier, vol. 37(4), pages 861-883, May.
- Saint-Paul, Gilles, 1992. "Productivity Growth and the Structure of the Business Cycle," CEPR Discussion Papers 709, C.E.P.R. Discussion Papers.
- Moulton, Brent R, 1990. "An Illustration of a Pitfall in Estimating the Effects of Aggregate Variables on Micro Unit," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 334-38, May.
- Arellano, Manuel & Bond, Stephen, 1991.
"Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations,"
Review of Economic Studies,
Wiley Blackwell, vol. 58(2), pages 277-97, April.
- Tom Doan, . "RATS program to replicate Arellano-Bond 1991 dynamic panel," Statistical Software Components RTZ00169, Boston College Department of Economics.
When requesting a correction, please mention this item's handle: RePEc:iza:izadps:dp799. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mark Fallak)
If references are entirely missing, you can add them using this form.