Economic competencies
Advertising expenditure is estimated from the IO Tables by summing intermediate con- sumption on Advertising (product group 113) for each industry. Firm-specific human cap- ital, that is training provided by firms, was estimated as follows. Whilst there are a number of surveys (such as the LFS) which ask binary questions (such as whether the worker received training around the Census date), to the best of our knowledge there is only one survey on company training spending, namely the National Employer Skills Survey (NESS) which we have available for 2004, 2006, 2007.12 We also have summary data for 1988 (from an unpublished paper kindly supplied by John Barber). The key feature of the survey, like the US Survey of Employer-provided Training (SEPT) used in CHS, is that it asks for direct employer spending on training (e.g. in house training centres, services purchased from outside providers, etc.) and indirect costs via the opportunity cost of the employee’s time whilst spent in training and therefore not in current production.13 These opportunity costs turn out to be about equal to the former.
One question is whether all such surveyed training creates a lasting asset or is some of it short-lived. We lack detailed knowledge on this, but have subtracted spending on Health and Safety training, around 10% of total spend. Whilst this subtraction lowers the level of training spending, it turns out to affect the contribution of training to growth at only the 4th decimal place. A second question is the extent to which such training financed by the firm might be incident on the worker, in the sense of reducing worker pay relative to what it might have been without training, unobserved by the data gatherer. O’Mahony and Peng (2010) use the fraction of time that training is reported to be outside working hours, arguing that such a fraction is borne by the worker. Our data is all for training in working hours.
It might be argued that including both firm-specific human capital and labour compo- sition is double counting. For example, labour composition includes age: if the increased wages of more experienced workers is partly due to the additional training they have received, there may be some double-counting of the contribution of that training. Recall however that firm-specific human capital data are training costs paid for by the firm. Fol- lowing Becker (1962), firms will pay only for training specific to the firm: training that will yield no market wage increase. If this holds there is no double counting: general skills are captured in market-wide wages and so in labour composition, and firm-specific skills in firm-provided training costs.
Finally, our data on investment in organisational structure relies on purchased manage- ment consulting, on which we have consulted the Management Consultancy Association
ความสามารถทางเศรษฐกิจโฆษณารายจ่ายคือประมาณจากตาราง IO โดยรวมคอน sumption กลางโฆษณาบน (กลุ่มผลิตภัณฑ์ 113) สำหรับแต่ละอุตสาหกรรม บริษัทเฉพาะมนุษย์หมวก-ital ที่ถูกฝึกให้ โดยบริษัท ถูกประเมินดังนี้ ในขณะที่มีจำนวนแบบสำรวจ (เช่น LFS) ซึ่งถามคำถามแบบไบนารี (เช่นว่าผู้ปฏิบัติงานที่ได้รับอบรมรอบวันสำมะโน), กับความรู้ของเรา มีเพียงหนึ่งสำรวจบริษัทฝึกอบรมค่าใช้จ่าย คือแห่งชาตินายทักษะสำรวจ (เนส) ซึ่งมีพร้อมใช้งานสำหรับปี 2004, 2006, 2007.12 เรายังมีข้อมูลสรุป 1988 (จากการประกาศกระดาษกรุณาจัดร้านจอห์น) คุณลักษณะสำคัญของการสำรวจ เช่นเราสำรวจของนายจ้างให้ฝึกอบรม (กันยายน) ใช้ CHS คือ มันขอนายจ้างโดยตรงค่าใช้จ่ายในการฝึกอบรม (เช่นศูนย์ฝึกอบรมภายใน บริการที่ซื้อจากผู้ให้บริการภายนอก ฯลฯ) และต้นทุนทางอ้อมผ่านต้นทุนโอกาสของเวลาของพนักงานในขณะที่ใช้เวลาในการฝึกอบรม และดังนั้น ไม่อยู่ในปัจจุบัน production.13 ต้นทุนเหล่านี้โอกาสเปิดออกจะเกี่ยวกับเท่ากับอดีตOne question is whether all such surveyed training creates a lasting asset or is some of it short-lived. We lack detailed knowledge on this, but have subtracted spending on Health and Safety training, around 10% of total spend. Whilst this subtraction lowers the level of training spending, it turns out to affect the contribution of training to growth at only the 4th decimal place. A second question is the extent to which such training financed by the firm might be incident on the worker, in the sense of reducing worker pay relative to what it might have been without training, unobserved by the data gatherer. O’Mahony and Peng (2010) use the fraction of time that training is reported to be outside working hours, arguing that such a fraction is borne by the worker. Our data is all for training in working hours.It might be argued that including both firm-specific human capital and labour compo- sition is double counting. For example, labour composition includes age: if the increased wages of more experienced workers is partly due to the additional training they have received, there may be some double-counting of the contribution of that training. Recall however that firm-specific human capital data are training costs paid for by the firm. Fol- lowing Becker (1962), firms will pay only for training specific to the firm: training that will yield no market wage increase. If this holds there is no double counting: general skills are captured in market-wide wages and so in labour composition, and firm-specific skills in firm-provided training costs.Finally, our data on investment in organisational structure relies on purchased manage- ment consulting, on which we have consulted the Management Consultancy Association
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