The paper investigates the relationship between human capital diversity measured in terms of occupational diversity and a rm's likelihood to innovate. The empirical analysis is based on a linked employer-employee panel dataset of German rms over the period 1998 to 2007. Despite notable di erences between service and manufacturing rms, our results clearly indicate a positive relationship between...

We analyse how progressive taxation and education subsidies affect schooling decisions when the returns to education are stochastic. We use the theory of real options to solve the problem of education choice in a dynamic stochastic model. We show that education attainment will be an increasing function of the risk associated with education. Furthermore, this result holds regardless of the degre...

Labor Productivity and Vocational Training: Evidence from Europe In this paper we show that vocational training is an important determinant of productivity growth. We construct a multi-country, multi-sectoral dataset, and quantify empirically to what extent vocational training has contributed to increase the growth rate of labor productivity in Europe between 1999 and 2005. We find that one ext...

The ability to speak and understand a host country’s primary language is strongly associated with measures of immigrant integration. We estimate the causal effects English training for adult immigrants on participants’ civic economic outcomes using randomized enrollment lotteries from public education program in Massachusetts. Participation doubles voter participation increases annual earnings ...

SUMMARY This study draws on human capital theory to measure the quality of accounting personnel based their education level and investigate whether client firm’s affects auditors’ assessment audit risk by examining outcomes. It shows that auditors charge higher fees are more likely make adjustments for companies whose have a lower education. The relationship between (audit adjustments) is robus...

Management matters for firms, but what practices are optimal in hierarchical government organizations? And can skilled managers identify them? A large-scale randomized trial conducted with the police of Rajasthan, India, tested four interventions recommended by senior officers: limitations transfers, rotation duties and days off, increased community involvement, on-duty training. Field experien...

Abstract We measure U.S. listed companies’ skilled labor risk—that is, the potential failure in attracting and retaining labor, by intensity of discussions on this issue 10-K filings. show that effectively captures firm risk due to mobility labor. find an increase from 25th 75th percentile would wage 22% (or $15,593) also lead higher equity-based incentive pay. The interacts with other corporat...

The Supply of Child Labour The paper develops a theoretical framework, and a diagrammatic apparatus, for explaining the supply of child labour. It examines the effect of credit, insurance, and poverty (defined as more than just low income). It also explains bonded child labour, a modern form of slavery closely associated with the worst forms of child exploitation. The analysis is positive, but ...

This paper examines whether receipt of an RSA grant has a causal impact on plant TFP. To tackle the problem of self-selection into the treatment group, propensity score matching is employed. In order to control for the endogeneity of other variables in the model, estimations are performed using the system GMM estimator. The results show that for low technology manufacturing, receipt of an RSA g...

Creativity and the Family Tree: Human Capital Endowments and the Propensity of Entrepreneurs to Patent In this paper we show that the patenting behavior of creative entrepreneurs is correlated with the patenting behavior of their fathers, which we refer to as a source of the entrepreneurs’ human capital endowments. Our argument for this relationship follows from established theories of developm...