Training and Search On the Job

Nicolas Roys and Rasmus Lentz
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Rasmus Lentz: University of Wisconsin Madison

No 187, 2016 Meeting Papers from Society for Economic Dynamics

Abstract: The paper studies human capital accumulation over workers’ careers in an on the job search setting with heterogenous firms. In renegotiation proof employment contracts, more productive firms provide more training. Both general and specific training induce higher wages within jobs, and with future employers, even conditional on the future employer type. Because matches do not internalize the specific capital loss from employer changes, specific human capital can be over-accumulated, more so in low type firms. While validating the Acemoglu and Pischke (1999) mechanisms, the analysis nevertheless arrives at the opposite conclusion: That increased labor market friction reduces training in equilibrium.

Date: 2016
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Journal Article: Training and Search On the Job (2024)
Working Paper: Training and Search on the Job (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed016:187

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