Welch, Finis; Ureta, Manuelita - In: The economics of skills obsolescence, (pp. 51-81). 2002
If wage growth over the career results from embellishment of one's skills, then obsolescence is a matter of luck, a matter of the vagaries of market demand and of innovations that prize alternative skills. If wage growth results from learning and adapting to change, then obsolescence is the...
