| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2217 |
| DP2217 European Labour Markets and the Euro: How Much Flexibility Do We Really Need? | |
| Michael Burda | |
| 发表日期 | 1999-08-31 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | We investigate two dimensions of investment in general human capital on-the-job: the number of workers trained and the intensity of training for each worker. In the benchmark case, we consider wage and training decisions made by firms in an imperfectly competitive labour market. The benchmark case generates two types of market failure: too few workers are trained, and the workers who are hired receive too little training. This is caused by the firms' discount rate exceeding the social discount rate, due to a 'quitting externality'. We show that the presence of labour unions can increase social welfare by increasing training intensity, while reducing welfare by lowering the number of workers trained. Using the British Household Panel Survey, we confirm the predictions of the model. |
| 主题 | Labour Economics |
| 关键词 | General training Human capital Labour unions Quitting externalities |
| URL | https://cepr.org/publications/dp2217 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531323 |
| 推荐引用方式 GB/T 7714 | Michael Burda. DP2217 European Labour Markets and the Euro: How Much Flexibility Do We Really Need?. 1999. |
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