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Tenure, Experience, Human Capital and Wages

 

Notice

Type:   Article
 
Titre:   Tenure, Experience, Human Capital and Wages : A Tractable Equilibrium Search Model of Wage Dynamics
 
Auteur(s):   Bagger, Jesper (Auteur)
Fontaine, François - Bureau d'économie théorique et appliquée (Auteur)
Postel-Vinay, Fabien - Département d'économie (Auteur)
Robin, Jean-Marc (1961-...) - Département d'économie (Auteur)
 
In:   American Economic Review
 
Date de publication:   2014-06
 
Éditeur:   ÉTATS-UNIS  :  American Economic Association
 
Volume:   104
 
Numéro:   6
 
Pages:   1551-1596  p.
 
ISSN:   00028282
 
DOI:   10.1257/aer.104.6.1551
 
Mots-clés:   [en] Human capital accumulation, Wage growth, Labor market competition
 
JEL:   J24,  J31,  J63,  J64
 
Résumé:   [en] We develop and estimate an equilibrium job search model of worker careers, allowing for human capital accumulation, employer heterogeneity and individual-level shocks. Wage growth is decomposed into contributions of human capital and job search, within and between jobs. Human capital accumulation is largest for highly educated workers. The contribution from job search to wage growth, both within- and between-job, declines over the first ten years of a career – the ‘job-shopping’ phase of a working life – after which workers settle into high-quality jobs using outside offers to generate gradual wage increases, thus reaping the benefits from competition between employers.
 
 

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Version de l'éditeur tenure-experience-human-capital.pdf 1,22 MB
 

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