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Measuring Human Capital And Its Effects On Wage Growth

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  • Rusty Tchernis

Abstract

Ever since Mincer, years of labour market experience were used to approximate individual's general human capital, while years of seniority were used to approximate job-specific human capital. This specification is restrictive because it assumes that starting wages at a new job depend only on job market experience. In this paper, I investigate the effects of human capital on wage growth by using a more flexible specification of the wage equation, which allows for a rich set of information on past employment spells to affect the starting wages. In addition, I endogenize the labour mobility decision. In order to illuminate the effects of human capital accumulation patterns on wage growth, I compare counterfactual career paths for representative individuals. Copyright © 2010 Blackwell Publishing Ltd.

Suggested Citation

  • Rusty Tchernis, 2010. "Measuring Human Capital And Its Effects On Wage Growth," Journal of Economic Surveys, Wiley Blackwell, vol. 24(2), pages 362-387, April.
  • Handle: RePEc:bla:jecsur:v:24:y:2010:i:2:p:362-387
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    Cited by:

    1. Chi, Miao & Drewianka, Scott, 2014. "How much is a green card worth? Evidence from Mexican men who marry women born in the U.S," Labour Economics, Elsevier, vol. 31(C), pages 103-116.
    2. Andreas Koch & Jochen Späth & Harald Strotmann, 2013. "The role of employees for post-entry firm growth," Small Business Economics, Springer, vol. 41(3), pages 733-755, October.

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