G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w3208
来源IDWorking Paper 3208
Job Training: Costs, Returns, and Wage Profiles
Jacob Mincer
发表日期1989-12-01
出版年1989
语种英语
摘要Using information on time costs of training and gains in wages attributable to training I computed rates of return on training investments. The range of estimates based on several data sets generally exceeds the magnitudes of rates of return usually observed for schooling investments. It is not clear, however, that the difference represents underinvestment in job training. Two methods were used to estimate total annual costs of job training in the U.S. economy, for 1958, 1976, and 1987. The "direct' calculation uses information on time spent in training and on wages. For 1976 so calculated costs amounted to 11.2% of Total Employee Compensation and a half of costs of school education. In the "indirect" method training costs were estimated from wage functions fitted to PSID data. In 1976 the direct estimate amounted to between 65% and 80% of the indirect estimate based on the wage profile. This result represents strong support for the human capital interpretation of wage profiles. The estimates indicate a slower growth of training than of school expenditures in the past decades. Substitution of schooling for job training is a likely cause.
URLhttps://www.nber.org/papers/w3208
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/560494
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GB/T 7714
Jacob Mincer. Job Training: Costs, Returns, and Wage Profiles. 1989.
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