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Credit constraints and training after job loss

Occupations Australia
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apo-nid7954.pdf 306.28 KB

It is widely held that imperfect capital markets mean that individuals from poor backgrounds cannot borrow to finance educational investments. But are these credit constraints an empirical reality? The 1995 Canadian Out of Employment Panel is used to take a new approach to this question by exploring the financial resources and skill formation choices of a large number of recent job losers. The results offer some qualified support for the credit constraint impediment and some new findings.

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