Lazear, Edward; Shaw, Kathryn - National Bureau of Economic Research (NBER) - 2007
A key tenet of the theory of human capital is that investment in skills results in higher productivity. The previous … proxy for productivity growth. In this paper, we have both wage and personal productivity data, and thus are able to measure …-tenure profiles. The pattern of productivity rising more rapidly than pay reverses after two years of tenure. Worker selection is also …