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On-the-Job-Training
Author(s): Harley Frazis;Mark A. Loewenstein
Source:
Journal:Foundations and Trends® in Microeconomics
ISSN Print:1547-9846, ISSN Online:1547-9854
Publisher:Now Publishers
Volume 2 Number 5,
Document Type: Article
Pages: 78 (363-440)
DOI: 10.1561/0700000008
Abstract: The analysis of how individuals obtain and are paid for their skills is fundamental to labor economics. The basic idea of human capital theory is that workers and firms invest in workers' skills in order to increase their productivity, much as persons invest in financial or physical assets to earn income. Workers develop many skills through formal education not tied to an employer, but an important part of their skills are learned on the job. This paper is a survey of the recent literature on on-the-job training, both theoretical and empirical.
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