Labor Specialization and the Extent of the Market
AbstractThis paper presents an analytical model of labor specialization. Workers make human capital investment decisions on the depth and the breadth of their skill. Given that firms have diverse job requirements and increasing returns to scale, workers invest more for the depth of their human capital, and less for the breadth, as the size of the labor market increases. Also, the larger the size of the market, the more varieties of job requirements are used so that the average match between a worker and a firm improves. Copyright 1989 by University of Chicago Press.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Political Economy.
Volume (Year): 97 (1989)
Issue (Month): 3 (June)
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- Human Capital, Endogenous Growth and Hospital Performance
by Sam Watson in The Academic Health Economists' Blog on 2012-03-27 10:44:23
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