According to the classical human capital theory general training is entirely financed by
workers. This prediction is at odds with the empirical evidence. This observation inspired new
theoretical models of training in frictional labour market. These frictions create incentives for
firms to invest in general training. This paper tries to identify the sources of frictions in the
Swiss labour market. The results indicate that internal wage floors may play an important
role, especially for training in large firms. Overall, the empirical results support the predictions
of the new training literature.
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