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Training and Contracts: Some Dynamic Aspects of Human Capital Formation

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  • Myles, Gareth D.

Abstract

A contracts-based model of the provision of training and employment with overlapping generations of workers is developed. Attention is focused on the role of imperfect capital markets in the determination of contracts and on intertemporal variations in the levels of training and employment, these may exhibit cyclical or chaotic behaviour.

Suggested Citation

  • Myles, Gareth D., 1989. "Training and Contracts: Some Dynamic Aspects of Human Capital Formation," Economic Research Papers 268355, University of Warwick - Department of Economics.
    • Handle: RePEc:ags:uwarer:268355
    DOI: 10.22004/ag.econ.268355
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    References listed on IDEAS

    as
    1. Baumol, William J & Benhabib, Jess, 1989. "Chaos: Significance, Mechanism, and Economic Applications," Journal of Economic Perspectives, American Economic Association, vol. 3(1), pages 77-105, Winter.
    2. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
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