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The Cyclical Behavior of Skill Acquisition Author info | Abstract | Publisher info | Download info | Related research | Statistics David N. DeJong (Department of Economics, University of Pittsburgh)
Beth F. Ingram (Department of Economics, University of Iowa)
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We use a business cycle model to analyze the general equilibrium implications of a representative agent's decision to devote time to skill acquisition activities, which are modeled as boosting subsequent labor productivity by increasing the stock of human capital. We use aggregate data on consumption, investment, and labor hours to estimate the parameters of the model, and then use the estimated model and the observed data to infer the aggregate behavior of skill acquisition activities. We find that these activities have important cyclical implications and are distinctively countercyclical; they also exhibit a systematic correspondence with college enrollment data. (Copyright: Elsevier)
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics .
Volume (Year): 4 (2001)
Issue (Month): 3 (July)
Pages: 536-561
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Handle: RePEc:red:issued:v:4:y:2001:i:3:p:536-561Contact details of provider: Postal: Review of Economic Dynamics Academic Press Editorial Office 525 "B" Street, Suite 1900 San Diego, CA 92101 Fax: 1-860-486-4463 Email: Web page: http://www.EconomicDynamics.org/review.htm More information through EDIRC
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Keywords: on-the-job training college enrollment general-equilibrium model full-information estimation. Other versions of this item:
Find related papers by JEL classification: E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
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