Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/95807
Authors: 
Pannenberg, Markus
Year of Publication: 
1996
Series/Report no.: 
DIW Discussion Papers 135
Abstract: 
Though the shared investment hypothesis of human capital theory, i.e. that employers and employees share the costs of and the return on investment in firm-specific human capital, is widely accepted, we know little about the empirical evidence. The paper shows that in German data (1984-1991) there is no empirical evidence for the shared investment hypothesis. Rather we observe that employers use career ladders to protect one-sided investments against opportunistic bargaining. In contrast to these shortcomings we find convincing evidence for human capital theory, analysing the effects of on-the-job training itself on subsequent job mobility, career ladders and wage growth.
JEL: 
J24
J31
J62
J63
Document Type: 
Working Paper

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