Advanced Search
MyIDEAS: Login to save this paper or follow this series

The Economics of Has-Beens

Contents:

Author Info

  • Glenn MacDonald
  • Michael Weisbach

Abstract

Evolution of technology causes human capital to become obsolete. We study this phenomenon in an overlapping generations setting, assuming it is hard to predict how technology will evolve, and that older workers find updating uneconomic. Among our results is the proposition that (under certain conditions) a more rapid pace of technological advance is especially unfavorable to the old in the sense that the implied within-industry division of output or income between young and old becomes much more skewed, i.e., a smaller number of young earn comparatively more. We apply our results to architecture, an occupation in which the has-beens phenomenon has had a particularly acute impact.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.nber.org/papers/w8464.pdf
Download Restriction: no

Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 8464.

as in new window
Length:
Date of creation: Sep 2001
Date of revision:
Publication status: published as MacDonald, Glenn and Michael S. Weisbach. "The Economics Of Has-Beens," Journal of Political Economy, 2004, v112(2,Part2), S289-S310.
Handle: RePEc:nbr:nberwo:8464

Note: CF LS
Contact details of provider:
Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Phone: 617-868-3900
Email:
Web page: http://www.nber.org
More information through EDIRC

Related research

Keywords:

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Timothy J. Perri, 2002. "The Cost of Specialized Human Capital," Working Papers, Department of Economics, Appalachian State University 02-02, Department of Economics, Appalachian State University.
  2. Tervio, Marko, 2003. "Mediocrity in Talent Markets," Institute for Research on Labor and Employment, Working Paper Series, Institute of Industrial Relations, UC Berkeley qt7411j2vx, Institute of Industrial Relations, UC Berkeley.
  3. Thierry Madiès & Marie Claire Villeval & Malgorzata Wasmer, 2013. "Intergenerational Attitudes Towards Strategic Uncertainty and Competition: A Field Experiment in a Swiss Bank," Post-Print, HAL halshs-00807436, HAL.
  4. Mário Centeno & Márcio Corrêa, 2005. "Job Matching, Technological Progress And Worker-Provided On-The-Job Training," Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33th Brazilian Economics Meeting], ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of 171, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
  5. Lutz Schneider, 2007. "Alterung und technologisches Innovationspotential : Eine Linked-Employer-Employee-Analyse," IWH Discussion Papers, Halle Institute for Economic Research 2, Halle Institute for Economic Research.
  6. Inés P. Murillo, 2011. "Human capital obsolescence: some evidence for Spain," International Journal of Manpower, Emerald Group Publishing, Emerald Group Publishing, vol. 32(4), pages 426-445, July.
  7. Brox, James A. & Carvalho, Emanuel, 2008. "A Demographically Augmented Shift-Share Employment Analysis: An Application to Canadian Employment Patterns," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, Mid-Continent Regional Science Association, vol. 38(1).
  8. Jun Han & Wing Suen, 2011. "Age structure of the workforce in growing and declining industries: evidence from Hong Kong," Journal of Population Economics, Springer, Springer, vol. 24(1), pages 167-189, January.
  9. Luc Behahel, 2006. "Changement technologique et formation tout au long de la vie," Research Unit Working Papers, Laboratoire d'Economie Appliquee, INRA 0602, Laboratoire d'Economie Appliquee, INRA.
  10. Grip Andries de, 2006. "Evaluating Human Capital Obsolescence," ROA Working Paper, Maastricht University, Research Centre for Education and the Labour Market (ROA) 001, Maastricht University, Research Centre for Education and the Labour Market (ROA).
  11. Alders, Peter, 2005. "Human capital growth and destruction: the effect of fertility on skill obsolescence," Economic Modelling, Elsevier, Elsevier, vol. 22(3), pages 503-520, May.
  12. Meyer, Jenny, 2008. "The Adoption of New Technologies and the Age Structure of the Workforce," ZEW Discussion Papers, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research 08-045, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  13. Kristiina Huttunen, 2005. "R&D Activity, Exports, and Changes in Skill Demand in Finland," Finnish Economic Papers, Finnish Economic Association, Finnish Economic Association, vol. 18(2), pages 72-85, Autumn.
  14. Weinberg, Bruce A., 2004. "Experience and Technology Adoption," IZA Discussion Papers 1051, Institute for the Study of Labor (IZA).

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:8464. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.