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The Covariance Structure of Earnings and Income, Compensatory Behavior, and On-the-Job Investments

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  • Kearl, J R
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    Abstract

    The covariance between income and income growth for data from nineteenth-century Uta h is negative. An extended covariance model, estimated with earnings and income data, suggests that the degree of concavity of the age-ear nings (age-income) profile is associated with initial earnings (incom e) and the growth in earnings (income): those with lower initial earn ings (incomes) have higher rates of growth, but more concave age-rela ted profiles. These findings are consistent with a human capital inte rpretation of the earnings (income) profile and imply that there is m ore rapid depreciation of human capital obtained through on-the-job t raining than through other sources. Copyright 1988 by MIT Press.

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    Bibliographic Info

    Article provided by MIT Press in its journal Review of Economics & Statistics.

    Volume (Year): 70 (1988)
    Issue (Month): 2 (May)
    Pages: 214-23

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    Handle: RePEc:tpr:restat:v:70:y:1988:i:2:p:214-23

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    Web page: http://mitpress.mit.edu/journals/

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    Web: http://mitpress.mit.edu/journal-home.tcl?issn=00346535

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    Cited by:
    1. Parent, D., 1995. "Matching, Human capital, and the Covariance Structure of Earnings," Cahiers de recherche 9509, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    2. repec:fth:prinin:351 is not listed on IDEAS
    3. George J. Borjas, 1998. "The Economic Progress of Immigrants," NBER Working Papers 6506, National Bureau of Economic Research, Inc.

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