Dynamic treatment effects of job training
建立了一个动态培训参与模型，利用智利的行政数据估计培训对收入的动态回报，发现平均回报虽小，但随能力分布和先前培训选择而变化，且年轻工人连续培训的回报更低，存在动态替代性。
Summary This paper estimates the dynamic returns to job training. We posit a model of sequential training participation, where decisions and outcomes depend on observed and unobserved characteristics. We analyze different treatment effects, including policy relevant parameters, and link them to continuation values and latent skills. The empirical analysis exploits administrative data combining job training records, matched employee‐employer information, and pre‐labor market ability measures from Chile. Although the average returns to training are small, these vary across the unobserved ability distribution and previous training choices. In fact, among young workers, the returns to training are lower when followed by additional training, providing evidence of dynamic substitutability. Policy experiments illustrate how increasing the local availability of training programs may affect earnings heterogeneously across dynamic responses.