Training and Business Cycles

36 Pages Posted: 2 Nov 2005

Date Written: October 24, 2004

Abstract

This paper examines the behavior of skill acquisition through training at business cycles frequencies. A time series of training is first constructed using individual data from the NLSY79 database. We document the cyclical properties of the series, and find that training is weakly countercyclical, leads the cycle, and has a standard deviation of more than ten times that of output. We show that a model where employment, but not hours per week, is costly to adjust, is able to account for most of the documented regularities.

Keywords: training, business cycles

Suggested Citation

Sepulveda, Facundo, Training and Business Cycles (October 24, 2004). Available at SSRN: https://ssrn.com/abstract=830404 or http://dx.doi.org/10.2139/ssrn.830404

Facundo Sepulveda (Contact Author)

University of Santiago, Chile ( email )

Santiago
Chile

HOME PAGE: http://www.fsp.cl

Register to save articles to
your library

Register

Paper statistics

Downloads
125
Abstract Views
900
rank
224,658
PlumX Metrics