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Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: General human capital and employment adjustment in the Great Depression: Apprentices and journeymen in UK engineering
Author(s): Hart, Robert A
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Keywords: employment
Great Depression
historical perspective
human capital
labor market
Issue Date: Jan-2005
Date Deposited: 25-Feb-2013
Citation: Hart RA (2005) General human capital and employment adjustment in the Great Depression: Apprentices and journeymen in UK engineering. Oxford Economic Papers, 57 (1), pp. 169-189.
Abstract: The relationship between training and firm-level employment adjustment given an unanticipated fall in product demand has been central to human capital theory. The most cataclysmic negative output shock occurred in 1929-30. At this time, easily the most important source of United Kingdom general training was the apprenticeship system. Using data collected by the Engineering Employers' Federation (EEF), this paper examines the impact of the Great Depression on numbers of apprentices and skilled journeymen. Statistics cover eight skilled engineering occupations in 27 local labour markets over the period 1928-38. Relative employment adjustment responses of apprentices and journeymen accord well with general human capital arguments.
DOI Link: 10.1093/oep/gpi011
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