Ventura, Gustavo Jaime; Yaron, Amir; Hugget, Mark - National Bureau of Economic Research (NBER) - 2002
Mean earnings and measures of earnings dispersion and skewness all increase in US data over most of the working life-cycle for a typical cohort as the cohort ages. We show that a benchmark human capital model can replicate these properties from the right distribution of initial human capital and...