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The standard human-capital model is based on the assumption that the observed wage of an individual is equal to the monetary value of the individual net human-capital productivity, the so-called net potential wage. We argue that this assumption is rejected by the ECHP data for Belgium, Denmark...
Persistent link: https://www.econbiz.de/10010271292
In 1958 Jacob Mincer pioneered an important approach to understand how earnings are distributed across the population. In the years since Mincer's seminal work, he as well as his students and colleagues extended the original human capital model, reaching important conclusions about a whole array...
Persistent link: https://www.econbiz.de/10010268458
This paper develops a life-cycle approach to equilibrium unemployment. Workers only differ respectively to their distance from deterministic retirement. A non age-directed search equilibrium is then typically featured by increasing (decreasing) firing (hiring) rates with age and a hump-shaped...
Persistent link: https://www.econbiz.de/10010268639
We use cohort data from 11 European countries to study whether experience profiles differ by educational attainment. Previous literature does not provide a clear answer to this question, that is important to evaluate private returns to education over the working life of individuals. We find...
Persistent link: https://www.econbiz.de/10010262356
How valuable is education for entrepreneurs' performance as compared to employees'? What might explain any differences? And does education affect peoples' occupational choices accordingly? We answer these questions based on a large panel of US labor force participants. We show that education...
Persistent link: https://www.econbiz.de/10010277025
theory. The sources of the wage growth are: (i) the rise of the return to imported human capital; (ii) the impact of … capital theory, we derive a non-linear model that imposes restrictions across the earning equations of natives and immigrants … following arrival, wages of highly skilled immigrants grow at 8% a year. Rising prices of skills, occupational transitions …
Persistent link: https://www.econbiz.de/10010262081
forms of work-related training received by men and women over the period 1998-2000, and to estimate their impact on wages … estimate the impact of training – controlling for its financing method – on wages levels and wages growth. We find that … employer-financed training increases wages both in the current and future firms, with some evidence that the impact in future …
Persistent link: https://www.econbiz.de/10010262766
This paper explores the theoretical issues and the empirical literature regarding the selectivity of migrants. Although the primary focus is on international migration, reference is made to internal migration and return migration. The theoretical analysis indicates a tendency toward the...
Persistent link: https://www.econbiz.de/10010262350
We estimate a dynamic programming model of schooling decisions in which the degree of risk aversion can be inferred from schooling decisions. In our model, individuals are heterogeneous with respect to school and market abilities but homogeneous with respect to the degree of risk aversion. We...
Persistent link: https://www.econbiz.de/10010262728
This paper develops and applies a method for decomposing cross section variability of earnings into components that are forecastable at the time students decide to go to college (heterogeneity) and components that are unforecastable. About 60% of variability in returns to schooling is...
Persistent link: https://www.econbiz.de/10010274207