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Should Firms be Required to Pay for Vocational Training?

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  • Stevens, M.

Abstract

This paper constructs a model of a training market affected by both problems, and examines the rationale for training levy schemes, intended to make firms increase investment in vocational training. It is shown that regulating firms, or equivalently financing a subsidy through taxation of profits, can achieve a Pareto improvement irrespective of the cause of the under-investment. However, when the levy is assessed as a proportion of wages the effect is to address capital market imperfections only.

Suggested Citation

  • Stevens, M., 1999. "Should Firms be Required to Pay for Vocational Training?," Economics Papers 1999-w4, Economics Group, Nuffield College, University of Oxford.
    • Handle: RePEc:nuf:econwp:1999-w4
    as

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    References listed on IDEAS

    as
    1. Jones, Ian, 1988. "An Evaluation of YTS," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 4(3), pages 54-71, Autumn.
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    More about this item

    Keywords

    LABOUR MARKET ; TRAINING PROGRAMMES;

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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