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Specific Investments and Nonlabor Income

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  • Glenn M. MacDonald

Abstract

In an economy with firm-specific human capital, it is shown that (i) a distribution of nonlabor income will generally induce a distribution of net returns to specific investments; (ii) at the individual level nonlabor income and net returns will be positively related over some range and unrelated otherwise; and (iii) the distribution of net returns is more concentrated than that of nonlabor income.

Suggested Citation

  • Glenn M. MacDonald, 1982. "Specific Investments and Nonlabor Income," Bell Journal of Economics, The RAND Corporation, vol. 13(1), pages 225-233, Spring.
    • Handle: RePEc:rje:bellje:v:13:y:1982:i:spring:p:225-233
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    Cited by:

    1. Banerjee, Abhijit V & Newman, Andrew F, 1993. "Occupational Choice and the Process of Development," Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 274-298, April.
    2. repec:eee:labchp:v:2:y:1986:i:c:p:789-848 is not listed on IDEAS

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