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A proposal to estimate human capital depreciation: some evidence for Spain


  • María Arrazola

    () (Universidad Carlos III de Madrid)

  • José de Hevia

    () (Universidad Carlos III de Madrid)

  • Marta Risueño

    (Universidad Europea de Madrid)

  • José Félix Sanz Sanz

    () (Universidad Complutense de Madrid)


This article formulates an empirical model for salary determination, which permits the identification of the depreciation rate of the stock of professional qualifications. The analysis is implemented using the 1994 European Community Household Panel data referring to Spanish salaried males. The depreciation rate of the stock of qualifications is estimated at a narrow interval centred at 1%. Empirical evidence also suggests that although the depreciation rate does not vary according to the level of education, it does so depending on unemployment spells endured by the worker in recent years and on whether the worker has undertaken training courses.

Suggested Citation

  • María Arrazola & José de Hevia & Marta Risueño & José Félix Sanz Sanz, 2005. "A proposal to estimate human capital depreciation: some evidence for Spain," Hacienda Pública Española, IEF, vol. 172(1), pages 9-22, June.
  • Handle: RePEc:hpe:journl:y:2005:v:172:i:1:p:9-22

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    References listed on IDEAS

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    Cited by:

    1. Stefano Bosi & Thierry Laurent, 2008. "Health, Growth and Welfare: Why Put Public Money on Medical R&D?," Documents de recherche 08-18, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    2. Inés P. Murillo, 2011. "Human capital obsolescence: some evidence for Spain," International Journal of Manpower, Emerald Group Publishing, vol. 32(4), pages 426-445, July.
    3. Driouchi, Ahmed, 2015. "Threats to Skills of Unemployed Qualified Labor in Arab Economies," MPRA Paper 67361, University Library of Munich, Germany.
    4. Driouchi, Ahmed & Harkat, Tahar, 2016. "Macroeconomic and School Variables to Reveal Country Choices of General and Vocational Education: A Cross-Country Analysis with focus on Arab Economies," MPRA Paper 73455, University Library of Munich, Germany.
    5. Driouchi, Ahmed, 2014. "Unemployment Persistence & Risks of Skill Obsolescence in Arab Countries," MPRA Paper 53793, University Library of Munich, Germany.

    More about this item


    Human capital; depreciation; experience-earnings profiles;

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials


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