TRAINING, TURNOVER, AND SEARCH*
构建了一个包含企业专用培训和员工离职搜寻的模型，发现培训与工资正相关，并刻画了工资离散度和企业盈利如何随失业者闲暇价值变化，对理解劳动力市场培训投资和工资分布有参考价值。
This article explores a model of firm‐specific training in a job search environment with labor turnover. The main substantive finding is a positive association between training and wages (when dispersed). The article then precisely characterizes how both wage dispersion and firm profitability depend on the flow value b ≥ 0 of workers' unmatched time. It is shown that: (i) for all high values b , no equilibrium exists; (ii) for intermediate values b , multiple equilibria arise, where firms earn zero profits, and choose from a general wage distribution; (iii) for all lower values b , there is a unique equilibrium, with firms earning positive profits, and choosing from an atomless set of wages.