The Human Capital Model of Differences in …：不同的人力资本模型….pptVIP

Who pays the costs of on-the-job general training? Since the worker can leave and take the skills to other firms, the firm will not be willing to pay the costs of general training. So the worker pays the costs. How? The worker pays the costs by initially accepting a wage below what could be obtained elsewhere without training. The wage is the worker’s productivity net of training costs. As the worker becomes more skilled, his/her earnings catch up and eventually exceed what she could have earning without training. The amount by which earnings exceed what could have been made without training represents the benefits of the training. General training Gross benefits Costs $ Experience Earnings with training Earnings without training An individual will invest in general training if the benefits are sufficient to compensate for the costs. How do expectations of discontinuous LF experience influence an individual’s investment in general training? $ Gross benefits Costs Experience Earnings with training Earnings without training GB A B If an individual expects to drop out of the labor force at year A and return at year B, the gross benefits (GB) are reduced. If they are not sufficient to compensate for the costs, the individual will not make the investment. Earnings after dropping out of LF Who pays the costs of firm-specific training? If the worker were to be laid off, he/she would be unable to reap the benefits of the firm-specific training. So the worker would not be willing to bear all the costs of the training. If the worker were to quit, the firm would lose its investment in the worker. So the firm would not be willing to bear all the costs of the training either. So the worker and the firm share both the costs and the benefits of the training. How do the worker the firm share the costs benefits of firm-specific training? The worker pays part of the costs by initially accepting a wage below what could be obtained elsewhere without training. Th