Today's selection: Beyond Becker: Training in Imperfect Labour Markets
Commentary: Firstly, I don't like the organization of the paper. The logical flow always seems slighty off, but who am I to criticize?
Definitely written for a policy audience, but I didn't want to bother with the vast literature on training. I admit it's quasi-related to my function in government. Not as interesting as I expected, and partially because it is a literature review, to a certain extent.
Conclusions: Yes, we have an imperfect labour market. Ergo, what we see in real life makes sense. Why? Wage compression. The fact that the conclusions (65%, by word count) are dominated by a call for more research should indicate the value added.