Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
We confront the predictions of various theories with new training data from the British Household Panel Survey. We find that employer-financed training is associated with significantly higher wages at current and future firms, with a larger impact in future firms. This is consistent with human capital theory with credit constraints and with the new training literature assuming imperfectly competitive labor markets. © 2005 President and Fellows of Harvard College and the Massachusetts Institute of Technology.