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IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA) >
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http://hdl.handle.net/10419/21184
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| Title: | | A Product Market Theory of Worker Training  |
| Authors: | | Gersbach, Hans Schutzler, Armin |
| Issue Date: | | 2001 |
| Series/Report no.: | | IZA Discussion paper series 327 |
| Abstract: | | We develop a product market theory that explains why firms invest in general training of their workers. We consider a model where firms first decide whether to invest in general human capital, then make wage offers for each others? trained employees and finally engage in imperfect product market competition. Equilibria with and without training, and multiple equilibria can emerge. If competition is sufficiently soft and trained workers are substitutes, firms may invest in non-specific training if others do the same, because they would otherwise suffer a competitive disadvantage or need to pay high wages in order to attract trained workers. Government intervention can be socially desirable to turn training into a focal equilibrium. |
| Subjects: | | General training human capital oligopoly turnover |
| JEL: | | L43 L92 D42 L22 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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