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

Booth, Alison; Bryan, Mark L


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.

CollectionsANU Research Publications
Date published: 2005
Type: Journal article
Source: Review of Economics and Statistics
DOI: 10.1162/0034653053970357


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