UNION WAGES, TRAINING COST AND UNEMPLOYMENT

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概要

• 論文の詳細を見る

• The explanation of unemployment in terms of noncompetitive wage determination involving unions needs to suppose high training costs that prevent unemployed union members from acquiring the skills of other sectors and then from bidding jobs away from employed workers of the sectors. But, how can the supposition of the prohibitively high training cost be consistent with the presence of workers already having the skills? This paper answers this question. Though workers without any skill can fully realize the income stream from a skill, those already with other skills can only partly do so. This makes the former obtain a skill, but not the latter. This answer is a corollary of the natural, but not necessarily well recognized fact of the decreasing marginal productivity of human capital.

• 慶應義塾大学の論文

著者

• Otani Kiyoshi

  University Of Tsukuba

関連論文

• UNION WAGES, TRAINING COST AND UNEMPLOYMENT

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