Type
Article
Titre
Measuring human capital in the labor market: The supply of experience in 8 OECD countries
Dans
European Economic Review
Auteur(s)
WASMER Etienne - (Auteur)
Éditeur
US : International arts and sciences press
Volume
45
Numéro
4-6
Pages
861 - 874 p.
Notes
doi:10.1016/S0014-2921(01)00113-1
ISSN
00142921
Mots clés
Human capital, Perpetual inventory method
Résumé
EN
To investigate the evolution of the supply side of the labor market, I derive a methodology to measure an important component of the human capital level of the workforce, the experience of the labor market. Based on the perpetual inventory method, a stock of experience is estimated for eight OECD countries. It appears that, during the last three decades, the OECD labor markets have faced a decline in the supply of experience by the labor market participants, with a minimum in the early 1980s for most countries and a recovery in the 1990s. Some implications regarding relative wages, relative unemployment and schooling are discussed.

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