Abstract
Using self-reported data on training and productivity in ‘Human Capital Corporate Panel’ and employing a bivariate probit model that has a dynamic aspect, we were able to estimate skill level depreciation rate and effect of both formal and informal trainings on skill accumulation. Average annual depreciation rate of skill level was estimated to be 24%. Both formal and informal trainings were estimated to be effective in skill accumulation.
| Original language | English |
|---|---|
| Pages (from-to) | 34-47 |
| Number of pages | 14 |
| Journal | Journal of Economic Theory and Econometrics |
| Volume | 27 |
| Issue number | 1 |
| Publication status | Published - Mar 2016 |
| Externally published | Yes |
Keywords
- Bivariate probit model
- Informal training
- Simulated maximum likelihood estimation
- Skill accumulation and depreciation
ASJC Scopus subject areas
- Economics and Econometrics