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Economic transformation and the revaluation of human capital - Hungary, 1986-1999

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Author Info

  • Gabor Kertesi

    ()

  • Janos Kollo

    ()
    (Institute of Economics, Hungarian Academy of Sciences)

Abstract

The paper analyses the evolution of relative wages using individual wage data, and the contribution of skills to productivity using firmlevel information from Hungary, 1986-99. Its main conclusion is that skills obsolescence was, and still is, an important aspect of postcommunist transition. The data suggest a general rise in the returns to education between 1989 and 1992. This, the paper argues, was just a mirror image of the collapse of demand for unskilled labour in a period of deep crisis when technological change was minimal, and the forces of the market just started to work. When market institutions were already at work, and modern technologies were implemented on a massive scale, the general appreciation of education stopped but the returns to experience continued to decline. Young and educated workers are paid increasing wages and their skills are estimated to yield higher productivity returns, especially in a modern environment. By contrast, neither productivity nor wages grew for the older cohorts of educated workers after 1992.

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Bibliographic Info

Paper provided by Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences in its series Budapest Working Papers on the Labour Market with number 0104.

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Length: 36 pages
Date of creation: Jun 2001
Date of revision:
Handle: RePEc:has:bworkp:0104

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Citations

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Cited by:
  1. Gabor Kezdi, 2002. "Two Phases of Labor Market Transition in Hungary: Inter-Sectoral Reallocation and Skill-Biased Technological Change," Budapest Working Papers on the Labour Market 0203, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  2. Sándor Csengödi & Dieter M. Urban, 2008. "Foreign Takeovers and Wage Dispersion in Hungary," CESifo Working Paper Series 2188, CESifo Group Munich.
  3. Poór, József, 2013. "Az emberierőforrás-gazdálkodás átalakulása a nemzetközi cégek leányvállalatainál Magyarországon és a kelet-európai régióban
    [Changes of HR function at local subsidiaries of foreign-
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 64-89.
  4. Jelena Lauçev, 2012. "Public-Private Earnings Differentials during Economic Transition in Hungary," Budapest Working Papers on the Labour Market 1202, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  5. Hajnalka Tarjani, 2005. "Estimating some labour market implications of skill biased technology change and imports in Hungary," IEHAS Discussion Papers 0508, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  6. Asad Alam & Mamta Murthi & Ruslan Yemtsov & Edmundo Murrugarra & Nora Dudwick & Ellen Hamilton & Erwin Tiongson, 2005. "Growth, Poverty and Inequality : Eastern Europe and the Former Soviet Union," World Bank Publications, The World Bank, number 7287, October.
  7. Szilvia Hamori & Anna Lovasz, 2011. "Can a fifty percent increase in public sector wages improve the position of public sector employees in the long run? An assessment of the public-private income gap in Hungary," Budapest Working Papers on the Labour Market 1106, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  8. Sándor Csengodi & Rolf Jungnickel & Dieter Urban, 2005. "Foreign Taleovers and Wages: Theory and Evidence from Hungary," Development Working Papers 208, Centro Studi Luca d\'Agliano, University of Milano.
  9. Balázs, Muraközy & Halpern, László, 2005. "Does Distance Matter in Spillover?," CEPR Discussion Papers 4857, C.E.P.R. Discussion Papers.
  10. Arnold, Jens & Smarzynska Javorcik, Beata, 2005. "Gifted Kids or Pushy Parents? Foreign Acquisitions and Plant Performance in Indonesia," CEPR Discussion Papers 5065, C.E.P.R. Discussion Papers.
  11. Mukesh Chawla & Gordon Betcherman & Arup Banerji, 2007. "From Red to Gray : The "Third Transition" of Aging Populations in Eastern Europe and the Former Soviet Union," World Bank Publications, The World Bank, number 6741, October.
  12. Karoly Fazekas & Gabor Kezdi (ed.), 2007. "The Hungarian Labour Market 2007," The Hungarian Labour Market Yearbooks, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences, number 2007, January.
  13. M. Kopasz & Z. Fábián & András Gábos & Márton Medgyesi & P. Szivós & István György Tóth, 2013. "GINI Country Report: Growing Inequalities and their Impacts in Hungary," GINI Country Reports hungary, AIAS, Amsterdam Institute for Advanced Labour Studies.
  14. Julia Varga, 2001. "Earnings Expectations and Higher Education Enrolment Decisions in Hungary," Budapest Working Papers on the Labour Market 0110, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  15. Jan J. Rutkowski & Stefano Scarpetta, 2005. "Enhancing Job Opportunities : Eastern Europe and the Former Soviet Union," World Bank Publications, The World Bank, number 7408, October.

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