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The Production of Human Capital and the Life Cycle of Earnings: Variations on a Theme

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  • Mincer, Jacob

Abstract

In this work, the author enquires into the empirical validity and some implications of Yoram Ben-Porath's insights. Section 2 answers the question of whether there are the shapes and magnitudes of growth in wage profiles largely attributable to human capital investments. Section 3 tests the proposition that over the working age capacity wages decline before observed wages do. Implied timing of labor supply provides the test. In Section 4, implications are drawn from Ben-Porath's model for interpersonal differences and for the correlation between schooling and training. Copyright 1997 by University of Chicago Press.

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  • Mincer, Jacob, 1997. "The Production of Human Capital and the Life Cycle of Earnings: Variations on a Theme," Journal of Labor Economics, University of Chicago Press, vol. 15(1), pages 26-47, January.
  • Handle: RePEc:ucp:jlabec:v:15:y:1997:i:1:p:s26-47
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    References listed on IDEAS

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    1. Rosen, Harvey S, 1982. "Taxation and On-the-Job Training Decisions," The Review of Economics and Statistics, MIT Press, vol. 64(3), pages 442-449, August.
    2. Allen, Steven G, 2001. "Technology and the Wage Structure," Journal of Labor Economics, University of Chicago Press, vol. 19(2), pages 440-483, April.
    3. Blinder, Alan S & Weiss, Yoram, 1976. "Human Capital and Labor Supply: A Synthesis," Journal of Political Economy, University of Chicago Press, vol. 84(3), pages 449-472, June.
    4. Jovanovic, Boyan, 1979. "Job Matching and the Theory of Turnover," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 972-990, October.
    5. Lazear, Edward P, 1979. "Why Is There Mandatory Retirement?," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1261-1284, December.
    6. Juhn, Chinhui & Murphy, Kevin M & Pierce, Brooks, 1993. "Wage Inequality and the Rise in Returns to Skill," Journal of Political Economy, University of Chicago Press, vol. 101(3), pages 410-442, June.
    7. Joanne Salop & Steven C. Salop, 1976. "Self-selection and turnover in the labor market," Special Studies Papers 80, Board of Governors of the Federal Reserve System (U.S.).
    8. Stafford, Frank & Duncan, Greg J., 1979. "The Use of Time and Technology by Households in the United States," Working Paper Series 21, Research Institute of Industrial Economics.
    9. Sander, William & Krautmann, Anthony C, 1995. "Catholic Schools, Dropout Rates and Educational Attainment," Economic Inquiry, Western Economic Association International, vol. 33(2), pages 217-233, April.
    10. Jacob Mincer, 1986. "Wage Changes in Job Changes," NBER Working Papers 1907, National Bureau of Economic Research, Inc.
    11. 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, pages 352-352.
    12. Joanne Salop & Steven Salop, 1976. "Self-Selection and Turnover in the Labor Market," The Quarterly Journal of Economics, Oxford University Press, vol. 90(4), pages 619-627.
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