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Estimating a General Equilibrium Model of Intersectoral Mobility with Aggregate Shocks


  • Donghoon Lee
  • Kenneth Wolpin


A dynamic general equilibrium model of work, schooling, occupational and sectoral decisions is developed and estimated. The model is fit to data on life cycle employment, schooling, occupational and sectoral decisions, and on life cycle labor earnings, within and between cohorts observed in the US between 1968 and 1993. Based on the estimates of the model, the impacts of 1)sector-specific work experience, 2) skill enodowments, and 3) mobility costs on intersectoral mobility are assessed

Suggested Citation

  • Donghoon Lee & Kenneth Wolpin, 2004. "Estimating a General Equilibrium Model of Intersectoral Mobility with Aggregate Shocks," 2004 Meeting Papers 110, Society for Economic Dynamics.
  • Handle: RePEc:red:sed004:110

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    References listed on IDEAS

    1. Becker, Gary S & Tomes, Nigel, 1979. "An Equilibrium Theory of the Distribution of Income and Intergenerational Mobility," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1153-1189, December.
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    human capital; intersectoral mobility;

    JEL classification:

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

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