@techreport{Burdett2009Human,
abstract = {We analyse an equilibrium labour market with on-the-job search and experience effects (where workers learn-by-doing). The analysis yields a standard Mincer wage equation with worker fixed effects and endogenously determined firm fixed effects. It shows that learning-by-doing increases equilibrium wage dispersion consistent with the data. Equilibrium sorting - where over time more experienced workers also tend to find and quit to better paid employment - has a significant impact on wage inequality. As the model yields a cross section distribution of wages paid with the 'right' structure (the density of wages paid is single peaked with a 'fat' Pareto right tail) and yields the 'right' time profile of worker wage outcomes (the initial 10 years of a worker's career are characterised by several job changes and rapid wage growth) it yields a new, coherent statistical structure for future applied work.},
address = {Bonn},
author = {Ken Burdett and Carlos Carrillo-Tudela and Melvyn G. Coles},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {J24; J42; J64; 330; Search; wage dispersion; human capital accumulation; Arbeitsmarkttheorie; Arbeitsuche; Bildungsinvestition; Berufsbegleitende Ausbildung; Berufserfahrung; Lohnstruktur; Gleichgewicht; Theorie},
language = {eng},
note = {urn:nbn:de:101:1-20090619109},
number = {4215},
publisher = {IZA},
title = {Human capital accumulation and labour market equilibrium},
type = {IZA discussion papers},
url = {http://hdl.handle.net/10419/35831},
year = {2009}
}
