Template-type: ReDIF-Paper 1.0
Author-Name: Hiroaki Miyamoto
Author-Name-First: Hiroaki
Author-Name-Last: Miyamoto
Author-Email: hmiyamot@iuj.ac.jp
Author-Workplace-Name: International University of University
Author-Workplace-Homepage: http://www.iuj.ac.jp/
Title: Efficiency in a Search and Matching Model with Training Costs
Abstract: This paper studies the efficiency of the search and matching model with training costs. I incorporate productivity enhancing firm-specific skill training into the search and matching model of Pissarides (2000). I demonstrate that while the decentralized economy can be efficient if training costs are not sunk at the time of wage determination, the decentralized economy is not efficient due to a hold-up problem if training costs are sunk.
Classification-JEL: E24, J40, J64
Length: 14 pages
Creation-Date: 2011-03
Number: EMS_2011_09
File-URL: https://www.iuj.ac.jp/workingpapers/index.cfm?File=EMS_2011_09.pdf
File-Format: Application/pdf
File-Function: First version, 2011
File-Size: 262KB
Keywords: Search and matching model, Efficiency, Training
Handle: RePEc:iuj:wpaper:EMS_2011_09