Human Capital Life Cycle of Earnings Models: A Specific Solution and Estimation
AbstractThe purpose of this paper is to consider human capital models of earning behavior over an individual lifetime. A general class of life cycle models relating to individual earnings behavior is developed by considering alternative formulation of the basic Ben- Porath type model. An explicit solution to a specific formulation within this general class is considered in some detail. An empirical development of this explicit earnings function is estimated using data on a cohort of individuals surveyed at some point in their lifetime. The empirical estimates are discussed in detail. The estimated earnings function is then used to predict and individualâ€™s discounted present value of lifetime earnings.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 0004.
Date of creation: Jul 1973
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