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The Career Decisions of Young Men

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  • Keane, Michael P
  • Wolpin, Kenneth I

Abstract

This paper provides structural estimates of a dynamic model of schooling, work, and occupational choice decisions based on eleven years of observations on a sample of young men from the 1979 youth cohort of the National Longitudinal Surveys of Labor Market Experience (NLSY). The authors find that a suitably extended human capital investment model can in fact do an excellent job of fitting observed data on school attendance, work, occupational choices, and wages in the NLSY data on young men and also produces reasonable forecasts of future work decisions and wage patterns. Copyright 1997 by the University of Chicago.

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  • Keane, Michael P & Wolpin, Kenneth I, 1997. "The Career Decisions of Young Men," Journal of Political Economy, University of Chicago Press, vol. 105(3), pages 473-522, June.
    • Handle: RePEc:ucp:jpolec:v:105:y:1997:i:3:p:473-522
    DOI: 10.1086/262080
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    References listed on IDEAS

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    1. Yoram Weiss & Reuben Gronau, 1981. "Expected Interruptions in Labour Force Participation and Sex-Related Differences in Earnings Growth," Review of Economic Studies, Oxford University Press, vol. 48(4), pages 607-619.
    2. Zvi Eckstein & Kenneth I. Wolpin, 1989. "Dynamic Labour Force Participation of Married Women and Endogenous Work Experience," Review of Economic Studies, Oxford University Press, vol. 56(3), pages 375-390.
    3. 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.
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