Wage Competition with Heterogeneous Workers and Firms
研究工人和企业均存在异质性时劳动力市场的不完全竞争，分析企业能否识别工人技能对工资、培训成本及教育政策的影响。
We study imperfect competition in the labor market when both workers and firms are heterogeneous. When firms cannot observe workersâ skill, firms pay workers equal wages, but workers absorb training costs. When firms can identify worker types, firms pay different net wages to different workers. Voters select the level of general education that is financed by a lump-sum tax. Workers are on average better off when firms can observe workersâ skill for a given level of general human capital, but the median voter prefers a higher level of general human capital when firms cannot observe worker types