This paper adopts an equivalent income approach to calculate the economic value of
training activities for workers. Using econometric regression analysis of individual selfreported
job satisfaction (JS) and data from the European Community Household Panel
dataset (ECHP), the paper shows that employer-provided training exerts a positive and
significant effect on JS. On average, this effect is equivalent to a 17.7% increase in labour
earnings. Boes and Winkelmann’s (2009) Generalized Ordered Probit for panel data is
used to show that the determinants of JS as well as the equivalent income of training
differ across the JS distribution.
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| Paper |
 pdf (it, 273 KB, 12/05/10)
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