シム　スンギュ   SIM, Seung-Gyu   沈　承揆    所属   青山学院大学  国際政治経済学部 国際経済学科    職種   教授
言語種別	英語
発行・発表の年月	2020/01
形態種別	学術雑誌
査読	査読あり
標題	Back-loaded Wages and On-the-job Training in a Frictional Labor Market
執筆形態	単独
掲載誌名	Economic Inquiry
掲載区分	国外
出版社・発行元	The Western Economic Association International
巻・号・頁	58(1),pp.386-400
著者・共著者	Seung-Gyu Sim
概要	This paper analyzes the coexistence of on-the-job (general) training and on-the-job search in a frictional labor market where firms post skill-dependent labor contracts to preemptively back-load compensation after training. The back-loaded compensation scheme discourages trained workers' efficient job-to-job transition, as if they accumulated relationship-specific capital, which induces over-intensified training among more productive firms. The quantitative analysis predicts that the market equilibrium, relative to the efficiency benchmark, gets more skilled workers (training inefficiency) and less output (allocation inefficiency). It further demonstrates that efficiency loss is moderate due to positive externality and can be improved, as search friction is mitigated.