Skill Formation and Career Dynamics
This paper constructs and structurally estimates a dynamic occupational choice model that has two distinct features. First, an occupation is vertically and horizontally differentiated by a multidimensional task complexity measure. This allows a simultaneous analysis of career progression and comparative advantage. Second, the model includes hundreds of occupations by characterizing all jobs by a multidimensional task complexity vector, thereby avoiding the curse of dimensionality. Estimation results from the Dictionary of Occupational Titles (DOT) and the National Longitudinal Survey of Youth 1979 (NLSY) indicate that wages increase according to task complexity and that individuals climb up the career ladder along the dimension of tasks in which they have a comparative advantage.
|Date of creation:||2008|
|Date of revision:|
|Contact details of provider:|| Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA|
Web page: http://www.EconomicDynamics.org/society.htm
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PIER Working Paper Archive
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559, Federal Reserve Bank of Minneapolis.
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