The Structure of Wages and Investment in General Training
指出，在劳动力市场摩擦压缩工资结构时，企业可能为通用技能培训付费，使通用技能变成事实上的专用技能，并探讨了制度对培训融资和人力资本投资的影响。
In the human capital model with perfect labor markets, firms never invest in general skills and all cost of general training are borne by workers. When lobor market frictions compress the structure of wages, firms may pay for these investments. The distortion in the wage structure turns "technologically" general skills into de facto "specific " skills. Credit market imperfections are neither neccessary nor sufficient for firm‐sponsored training. Since labor market frictions and insititutions shape the wage structure, they may have an important impact on the financing and amount of human capital investments and account for some international differences in training practices.