Labor Market Pooling and Human Capital Investment Decisions
Copyright policy )Labor Market Pooling and Human Capital Investment Decisions
Labor market pooling is considered one of the advantages of agglomerations. This paper presents a model of human capital formation in an imperfectly competitive, pooled local labor market with heterogeneous workers and firms. Firms produce with different technologies requiring diverse skills. Workers specialize into specific skills and accumulate general human capital. While labor market pooling provides static efficiency gains, our results also imply positive long-term effects: Under a diversified structure, firm-specific shocks increase workers' incentives to acquire both general and specific human capital. This not only raises productivity but also strengthens a region's capability to adapt to change.
- University of Stirling United Kingdom
theory formation, I20: Education and Research Institutions: General, Economics, J24, Arbeitslosigkeit, Bildungsökonomie, Occupational Choice, Ballungsgebiet, Theoriebildung, Human capital, Region, Labor Market Research, regionale Verflechtung, general education, Regionalplanung, Bildungsinvestition, region, ddc:330, Ökonomie, Skills, Wirtschaft, structure of qualification, economy, labor market pooling, regional planning, expertise, I20, J41, agglomeration economies, regionaler Arbeitsmarkt, Ballungsraum, Regionalverflechtung, Arbeitsmarktstruktur, Region, Humankapital, Bildungsinvestitionen, Allgemeinbildung, Fachkenntnisse, Qualifikationsstruktur, matching, Arbeitslosigkeit, Beschäftigungseffekte, Regionalökonomie, Bildungsökonomie, unemployment, 330, investment in education, Beschäftigungseffekt, Arbeitsmarkt, J41: Labor Contracts, effect on employment, Fachwissen, economics of education, Qualifikationsstruktur, Allgemeinbildung, Humankapital, basic research, Matching, human capital, structure, Labor Productivity, J24: Human Capital, agglomeration area, Struktur, Arbeitsmarktforschung, matching, labor market, heterogeneity, regional interdependence, Grundlagenforschung, jel: jel:I20, jel: jel:J41, jel: jel:J24, ddc: ddc:330
theory formation, I20: Education and Research Institutions: General, Economics, J24, Arbeitslosigkeit, Bildungsökonomie, Occupational Choice, Ballungsgebiet, Theoriebildung, Human capital, Region, Labor Market Research, regionale Verflechtung, general education, Regionalplanung, Bildungsinvestition, region, ddc:330, Ökonomie, Skills, Wirtschaft, structure of qualification, economy, labor market pooling, regional planning, expertise, I20, J41, agglomeration economies, regionaler Arbeitsmarkt, Ballungsraum, Regionalverflechtung, Arbeitsmarktstruktur, Region, Humankapital, Bildungsinvestitionen, Allgemeinbildung, Fachkenntnisse, Qualifikationsstruktur, matching, Arbeitslosigkeit, Beschäftigungseffekte, Regionalökonomie, Bildungsökonomie, unemployment, 330, investment in education, Beschäftigungseffekt, Arbeitsmarkt, J41: Labor Contracts, effect on employment, Fachwissen, economics of education, Qualifikationsstruktur, Allgemeinbildung, Humankapital, basic research, Matching, human capital, structure, Labor Productivity, J24: Human Capital, agglomeration area, Struktur, Arbeitsmarktforschung, matching, labor market, heterogeneity, regional interdependence, Grundlagenforschung, jel: jel:I20, jel: jel:J41, jel: jel:J24, ddc: ddc:330
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