The Covariance Structure of Earnings and Income, Compensatory Behavior, and On-the-Job Investments
The covariance between income and income growth for data from nineteenth-century Uta h is negative. An extended covariance model, estimated with earnings and income data, suggests that the degree of concavity of the age-ear nings (age-income) profile is associated with initial earnings (incom e) and the growth in earnings (income): those with lower initial earn ings (incomes) have higher rates of growth, but more concave age-rela ted profiles. These findings are consistent with a human capital inte rpretation of the earnings (income) profile and imply that there is m ore rapid depreciation of human capital obtained through on-the-job t raining than through other sources. Copyright 1988 by MIT Press.
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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 70 (1988)
Issue (Month): 2 (May)
|Contact details of provider:|| Web page: http://mitpress.mit.edu/journals/ |
|Order Information:||Web: http://mitpress.mit.edu/journal-home.tcl?issn=00346535|
When requesting a correction, please mention this item's handle: RePEc:tpr:restat:v:70:y:1988:i:2:p:214-23. 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: (Karie Kirkpatrick)
If references are entirely missing, you can add them using this form.