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

  • Mincer, Jacob

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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Article provided by University of Chicago Press in its journal Journal of Labor Economics.

Volume (Year): 15 (1997)
Issue (Month): 1 (January)
Pages: S26-47

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Handle: RePEc:ucp:jlabec:v:15:y:1997:i:1:p:s26-47
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  1. Alan S. Blinder & Yoram Weiss, 1975. "Human Capital and Labor Supply: A Synthesis," NBER Working Papers 0067, National Bureau of Economic Research, Inc.
  2. 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.
  3. 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.).
  4. Steven G. Allen, 1996. "Technology and the Wage Structure," NBER Working Papers 5534, National Bureau of Economic Research, Inc.
  5. Harvey Rosen, 1982. "Taxation and On-The-Job Training Decisions," Working Papers 531, Princeton University, Department of Economics, Industrial Relations Section..
  6. Jacob Mincer, 1986. "Wage Changes in Job Changes," NBER Working Papers 1907, National Bureau of Economic Research, Inc.
  7. 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.
  8. Salop, Joanne & Salop, Steven, 1976. "Self-Selection and Turnover in the Labor Market," The Quarterly Journal of Economics, MIT Press, vol. 90(4), pages 619-27, November.
  9. Lazear, Edward P, 1979. "Why Is There Mandatory Retirement?," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1261-84, December.
  10. Jovanovic, Boyan, 1979. "Job Matching and the Theory of Turnover," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 972-90, October.
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