Minimum wages and on-the-job training:
Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers, because they prevent these workers from taking wage cuts necessary to finance training. We show that when the assumption of perfectly competitive labor markets underlying this t...
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
NBER
1999
|
| Series: | Working paper series / National Bureau of Economic Research
7184 |
| Online Access: | Volltext |
| Summary: | Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers, because they prevent these workers from taking wage cuts necessary to finance training. We show that when the assumption of perfectly competitive labor markets underlying this theory is relaxed, minimum wages can increase training of affected workers, by inducing firms to train their unskilled employees. More generally, a minimum wage increases training for constrained workers, while reducing it for those taking wage cuts to finance their training. We provide new estimates on the impact of the state and federal increases in the minimum wage between 1987 and 1992 of the training of low wage workers. We find no evidence that minimum wages reduce training. These results are consistent with our model, but difficult to reconcile with the standard theory of human capital. |
| Item Description: | Literaturverz. S. 36 - 37 |
| Physical Description: | 42 S. 22 cm |
Staff View
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| 520 | |a Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers, because they prevent these workers from taking wage cuts necessary to finance training. We show that when the assumption of perfectly competitive labor markets underlying this theory is relaxed, minimum wages can increase training of affected workers, by inducing firms to train their unskilled employees. More generally, a minimum wage increases training for constrained workers, while reducing it for those taking wage cuts to finance their training. We provide new estimates on the impact of the state and federal increases in the minimum wage between 1987 and 1992 of the training of low wage workers. We find no evidence that minimum wages reduce training. These results are consistent with our model, but difficult to reconcile with the standard theory of human capital. | ||
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| indexdate | 2024-07-09T21:25:07Z |
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| spelling | Acemoglu, Daron 1967- Verfasser (DE-588)124929575 aut Minimum wages and on-the-job training Daron Acemoglu and Jörn-Steffen Pischke Cambridge, Mass. NBER 1999 42 S. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 7184 Literaturverz. S. 36 - 37 Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers, because they prevent these workers from taking wage cuts necessary to finance training. We show that when the assumption of perfectly competitive labor markets underlying this theory is relaxed, minimum wages can increase training of affected workers, by inducing firms to train their unskilled employees. More generally, a minimum wage increases training for constrained workers, while reducing it for those taking wage cuts to finance their training. We provide new estimates on the impact of the state and federal increases in the minimum wage between 1987 and 1992 of the training of low wage workers. We find no evidence that minimum wages reduce training. These results are consistent with our model, but difficult to reconcile with the standard theory of human capital. Pischke, Jörn-Steffen 1962- Verfasser (DE-588)11252138X aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 7184 (DE-604)BV002801238 7184 http://papers.nber.org/papers/w7184.pdf kostenfrei Volltext |
| spellingShingle | Acemoglu, Daron 1967- Pischke, Jörn-Steffen 1962- Minimum wages and on-the-job training |
| title | Minimum wages and on-the-job training |
| title_auth | Minimum wages and on-the-job training |
| title_exact_search | Minimum wages and on-the-job training |
| title_exact_search_txtP | Minimum wages and on-the-job training |
| title_full | Minimum wages and on-the-job training Daron Acemoglu and Jörn-Steffen Pischke |
| title_fullStr | Minimum wages and on-the-job training Daron Acemoglu and Jörn-Steffen Pischke |
| title_full_unstemmed | Minimum wages and on-the-job training Daron Acemoglu and Jörn-Steffen Pischke |
| title_short | Minimum wages and on-the-job training |
| title_sort | minimum wages and on the job training |
| url | http://papers.nber.org/papers/w7184.pdf |
| volume_link | (DE-604)BV002801238 |
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