An explanation of international differences in education and workplace training

Article Abstract:

We develop a simple search equilibrium model of workplace training and education based on two features. First, investment in education improves job-related learning skills and reduces training costs by firms. Second, firms with vacant skilled job slots can choose between recruitment from the market and training. Compared to Germany and Japan, the US has both a higher inflow rate into unemployment and a higher efficiency of the matching process. While the combined effect of these differences on the share of educated labor is ambiguous, the effect on the percentage of firms undertaking workplace training is to unambiguously reduce it. [C] 2001 Elsevier Science B.V. All rights reserved. JEL classification: J24; J31 Keywords: Education; Workplace training

Germany, Employee Training, Analysis, Employee recruitment, Occupational training

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Urban unemployment, variable returns to scale and terms of trade

Article Abstract:

Companies, particularly those with operations in several countries, face potential problems with government intervention policies, including minimum wage laws and wage subsidies for specific industries. In this regard, they use Hecksher-Ohlin-Samuelson and Harris-Todaro general equilibrium models to assess how government policies can affect their operations. However, these models do not adequately gauge the extent of government intervention in a country's economy. A model based upon variable returns and a permanent state of urban unemployment is recommended as a potential remedy to this problem.

Terms of trade

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Business cycle measurement in the presence of structural change: international evidence

Article Abstract:

The Hamilton model of the US business cycle is used to evaluate economic growth in the US, European Union and Japan between 1960 and 2000.

European Union, Statistical Data Included, Research, Measurement, Economic development, Business cycles, Markov processes

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