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Testing Some Predictions of Human Capital Theory: New Training Evidence from Britain

Testing Some Predictions of Human Capital Theory: New Training Evidence from Britain We confront the predictions of various theories with new training data from the British Household Panel Survey. We find that employer-financed training is associated with significantly higher wages at current and future firms, with a larger impact in future firms. This is consistent with human capital theory with credit constraints and with the new training literature assuming imperfectly competitive labor markets. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Economics and Statistics MIT Press

Testing Some Predictions of Human Capital Theory: New Training Evidence from Britain

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References (10)

Publisher
MIT Press
Copyright
© 2005 President and Fellows of Harvard College and the Massachusetts Institute of Technology
ISSN
0034-6535
eISSN
1530-9142
DOI
10.1162/0034653053970357
Publisher site
See Article on Publisher Site

Abstract

We confront the predictions of various theories with new training data from the British Household Panel Survey. We find that employer-financed training is associated with significantly higher wages at current and future firms, with a larger impact in future firms. This is consistent with human capital theory with credit constraints and with the new training literature assuming imperfectly competitive labor markets.

Journal

The Review of Economics and Statistics – MIT Press

Published: May 1, 2005

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