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The role of specific and general human capital after displacement

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Author Info
BEN KRIECHEL
GERARD PFANN

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Abstract

Displaced workers experience significant and long-lasting wage losses. However, the average wage losses hide the tremendous differences among workers. So far, the differences are explained by differences in accumulated on-the-job experience, education level, age, and so on, but a large variation among similar workers remain. In this paper we investigate the effect of general and specific human capital on the unemployment duration and wage losses during the first three years following displacement. Information on the specificity of a job or function allows us to quantify the impact on the wage losses. We are able to rank positions in terms of the specificity of accumulated human capital.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal Education Economics.

Volume (Year): 13 (2005)
Issue (Month): 2 (June)
Pages: 223-236
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Handle: RePEc:taf:edecon:v:13:y:2005:i:2:p:223-236

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Related research
Keywords: Displacement; unemployment duration; sorting; heterogeneity;

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References listed on IDEAS
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  1. Gibbons, R. & Katz, L.F., 1989. "Layoffs And Lemons," Working papers 531, Massachusetts Institute of Technology (MIT), Department of Economics.
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  2. Ruhm, Christopher J, 1991. "Are Workers Permanently Scarred by Job Displacements?," American Economic Review, American Economic Association, vol. 81(1), pages 319-24, March. [Downloadable!] (restricted)
  3. Thomas J. Dohmen & Ben Kriechel & Gerard A. Pfann, 2004. "Monkey bars and ladders: The importance of lateral and vertical job mobility in internal labor market careers," Journal of Population Economics, Springer, vol. 17(2), pages 193-228, 06. [Downloadable!] (restricted)
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  4. Stevens, Margaret, 1994. "A Theoretical Model of On-the-Job Training with Imperfect Competition," Oxford Economic Papers, Oxford University Press, vol. 46(4), pages 537-62, October. [Downloadable!] (restricted)
  5. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," Journal of Political Economy, University of Chicago Press, vol. 70, pages 9. [Downloadable!] (restricted)
  6. Parsons, Donald O, 1972. "Specific Human Capital: An Application to Quit Rates and Layoff Rates," Journal of Political Economy, University of Chicago Press, vol. 80(6), pages 1120-43, Nov.-Dec.. [Downloadable!] (restricted)
  7. Daron Acemoglu & Jorn-Steffen Pischke, 1999. "The Structure of Wages and Investment in General Training," Journal of Political Economy, University of Chicago Press, vol. 107(3), pages 539-572, June. [Downloadable!] (restricted)
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  8. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January. [Downloadable!] (restricted)
  9. Pfann, Gerard A & Ben Kriechel, 2003. "Heterogeneity among Displaced Workers," Royal Economic Society Annual Conference 2003 164, Royal Economic Society. [Downloadable!]
  10. Kletzer, Lori G, 1998. "Job Displacement," Journal of Economic Perspectives, American Economic Association, vol. 12(1), pages 115-36, Winter. [Downloadable!] (restricted)
  11. Neal, Derek, 1995. "Industry-Specific Human Capital: Evidence from Displaced Workers," Journal of Labor Economics, University of Chicago Press, vol. 13(4), pages 653-77, October. [Downloadable!] (restricted)
  12. Topel, Robert, 1990. "Specific capital and unemployment: Measuring the costs and consequences of job loss," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 33(1), pages 181-214, January. [Downloadable!] (restricted)
  13. Barton H. Hamilton, 2000. "Does Entrepreneurship Pay? An Empirical Analysis of the Returns to Self-Employment," Journal of Political Economy, University of Chicago Press, vol. 108(3), pages 604-631, June. [Downloadable!] (restricted)
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This page was last updated on 2009-11-25.

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