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

Alison L. Booth; Mark L. Bryan

doi:10.1162/0034653053970357

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

Alison L. Booth¹; Mark L. Bryan²

¹ Australian National University · ² University of Essex

The Review of Economics and Statistics 2005

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.

DOI: 10.1162/0034653053970357
Volume: 87 (2)
Pages: 391-394
Language: en
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