Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/73823
Authors: 
Holzner, Christian
Year of Publication: 
2005
Series/Report no.: 
Ifo Working Paper 6
Abstract: 
This paper shows that in a search model where future employers of trained workers donot benefit from the training in other firms, investment into general training will only be below the competitive level if workers are credit constrained. If workers are credit constrained, then the training firm cannot recover the cost of training since trained workers will search for a better paid job. This does, however, not imply that trainees will benefit from training. Only if the trainee wage is bounded by the workers' credit constraints do trainees gain from training.
Subjects: 
General training
credit constraints
search frictions
matching
JEL: 
J24
J31
J41
J63
Document Type: 
Working Paper

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