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Working and Training: A Nonlinear Dynamic Analysis of Human Capital Development

Author

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  • Kazuo Nishimura
  • Tadashi Yagi
  • Makoto Yano

Abstract

We tend to think of workers completing their education and then entering the workforce, where they will gradually develop their skills. In fact, however, a worker's career may be characterized not only by this gradual buildup of job‐related skills but also by recurrent education, i.e. the phenomenon whereby a worker alternates between earning‐intensive periods and training‐intensive periods along his career path. In this study, we build a dynamic optimization model of earning/training decisions of a worker in which these patterns of his career path can be explained in an integrated manner.

Suggested Citation

  • Kazuo Nishimura & Tadashi Yagi & Makoto Yano, 2004. "Working and Training: A Nonlinear Dynamic Analysis of Human Capital Development," The Japanese Economic Review, Japanese Economic Association, vol. 55(2), pages 119-140, June.
    • Handle: RePEc:bla:jecrev:v:55:y:2004:i:2:p:119-140
    DOI: 10.1111/j.1468-5876.2004.t01-2-00297.x
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    References listed on IDEAS

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    4. Weiss, Yoram, 1971. "Learning by doing and occupational specialization," Journal of Economic Theory, Elsevier, vol. 3(2), pages 189-198, June.
    5. Yoram Ben-Porath, 1967. "The Production of Human Capital and the Life Cycle of Earnings," Journal of Political Economy, University of Chicago Press, vol. 75(4), pages 352-352.
    6. O. Ashenfelter & D. Card (ed.), 1999. "Handbook of Labor Economics," Handbook of Labor Economics, Elsevier, edition 1, volume 3, number 3.
    7. Jacob A. Mincer, 1974. "Schooling and Earnings," NBER Chapters, in: Schooling, Experience, and Earnings, pages 41-63, National Bureau of Economic Research, Inc.
    8. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1, January.
    9. Kazuo Nishimura & Makoto Yano, 2012. "Non-linear Dynamics and Chaos in Optimal Growth: An Example," Springer Books, in: John Stachurski & Alain Venditti & Makoto Yano (ed.), Nonlinear Dynamics in Equilibrium Models, edition 127, chapter 0, pages 127-150, Springer.
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    Cited by:

    1. Zhang Wei-Bin, 2012. "Education and Human Capital Accumulation in a Two -Sector Growth Model with Elastic Labor Supply," Scientific Annals of Economics and Business, Sciendo, vol. 59(1), pages 289-309, July.

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