This paper investigates one particular aspect of human capital formation: the relative effectiveness of training, as reflected in its effect on the probability of securing continued employment during the recent financial crisis. It uses a panel of 3983 individuals for the period 2008–11 and focuses on how the effects of training differ between the South and the North of Italy and across workers with different levels of education. The most striking result is that the effect of training on continued employment is notably stronger in the South than in the North of the country. 

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