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Keyword: human capital;
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Leonardo Felli and Christopher Harris
This paper introduces two complementary models of firm-specific training: an informational model and a productivity-enhancement model. In both models, market provision of firm-specific training is inefficient. However, t...Read more...
Patrick Bolton and Chenggang Xu
This paper centres around the question of ownership of firms and managerial competition and how these affect manager and employees' incentives to invest in human capital. We argue that employee's incentives in human capi...Read more...