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Training And Contracts: Some Dynamic Aspects Of Human Capital Formation

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  • MYLES, G.D.

Abstract

A contracts-based model of the provision of training and employment with overlapping generations of workers is developed. Attention is focused on the role of the imperfect capital markets in the determination of contracts and on intertemporal variations in the levels of training and employment, these may exhibit cyclical or chaotic behaviour.

Suggested Citation

  • Myles, G.D., 1989. "Training And Contracts: Some Dynamic Aspects Of Human Capital Formation," The Warwick Economics Research Paper Series (TWERPS) 321, University of Warwick, Department of Economics.
  • Handle: RePEc:wrk:warwec:321
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    File URL: https://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/1989-1994/twerp321.pdf
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    References listed on IDEAS

    as
    1. Baumol, William J & Benhabib, Jess, 1989. "Chaos: Significance, Mechanism, and Economic Applications," Journal of Economic Perspectives, American Economic Association, vol. 3(1), pages 77-105, Winter.
    2. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    training ; contracts ; human resources ; employment;

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