Does Poaching Distort Training?
在一个竞争性搜寻均衡模型中分析内生离职和通用人力资本形成，发现搜寻摩擦不一定会扭曲培训决策，但缺乏有效协调机制时会导致过度离职和培训不足，且培训补贴会降低福利。
We analyse the efficiency of the labour market outcome in a competitive searchequilibrium model with endogenous turnover and endogenous general humancapital formation. We show that search frictions do not distort training decisionsif firms and their employees are able to coordinate efficiently, for instance, byusing long-term contracts. In the absence of efficient coordination devicesthere is too much turnover and too little investment in general training.Nonetheless, the number of training firms and the amount of training providedare constrained optimal, and training subsidies therefore reduce welfare. Copyright The Review of Economic Studies Limited, 2004.