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Training Programs, Skills, and Human Capital: A Life-Cycle Approach

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Listed:
  • Gueorgui Kambourov

    (University of Toronto)

  • Florian Hoffmann

    (University of British Columbia)

Abstract

We argue that standard models with one-dimensional skills and human capital cannot explain these distinct patterns. Instead we develop a model in which human capital is occupation-specific, but in which non-routine occupations require upfront occupation-specific human capital built-up. Furthermore, accumulation of human capital in non-routine occupations requires different skills than in routine occupations. Training programs and their government-sponsored general educational component help building human capital up-front and developing skills for processing complex task. We show that our model can explain the rich set of facts about labor market dynamics found in the data.

Suggested Citation

  • Gueorgui Kambourov & Florian Hoffmann, 2014. "Training Programs, Skills, and Human Capital: A Life-Cycle Approach," 2014 Meeting Papers 1334, Society for Economic Dynamics.
  • Handle: RePEc:red:sed014:1334
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