As decisões de investimento em capital humano e a entrada e a saída da força de trabalho: uma abordagem a partir da RMS

This paper extends the basic model of human capital with social security to take into account the worker's possibility to benefit from a process of learning by doing and shows that the direct relationship between time of entry and exit of labor force, that was verified in that basic model, is no more implied, opening the possibility of getting a negative relationship, independently of the adopted retirement system. To verify empirically the hypothesis of a direct relationship between the time of entry and exit of labor market, this paper studies the people's contingent with sixty years or more in the Metropolitan Region of Salvador (MRS), and establishes the principles and determinants of these people's probability to participate in the labor force. Making use of data from the Employment and Unemployment Research of the MRS (PED/RMS), this paper models the aged people's participation in the labor force, through a logic model, highlighting the contribution of education (time of study), among other elements that influence these people's decision to continue working, when the deserved quiet would be the obvious decision. The empirical analysis driven in this study rejected the hypothesis of a direct relationship between entry and exit of labor force and pointed out a possible inverse relationship, in agreement with the obtained theoretical result. Furthermore, the econometrical analysis refuted the hypothesis that the aged people participate of the labor market just as a manner of occupational therapy. This paper showed that the aged people decision to participate in the labor force is due mainly to the wage they can receive in that market. The empirical results also revealed that the income not related to current labor effort can either reinforce or restrict aged people decisions to participate of labor force. However, the income that comes from the social security benefits is an important element that increases the probability of these aged people to participate of labor force.