Should Firms be Required to Pay for Vocational Training?
This 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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- 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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