Labor Turnover, Job-Specific Skills, and Efficiency in a Search Model
分析岗位特定培训成本对劳动力流动的影响，指出由于外部效应，市场存在过度流动和再培训，且当培训投资内生时，特定技能投资过高，中介机构难以实现效率。
This paper analyzes the implications for turnover of costly job-specific training. The presence of such costs in a search model implies that turnover decisions reduce the value of potential trades that are available to other market participants. There is too much turnover because of this external effect, and, therefore, too much retraining. When the investment in job training is endogenous, inefficient turnover again occurs, and the investment in specific skills is inefficiently high. The interactions between skill acquisition and turnover imply that it is essentially impossible for a brokerage institution to achieve efficiency.