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http://hdl.handle.net/10419/35831
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| Title: | | Human capital accumulation and labour market equilibrium  |
| Authors: | | Burdett, Ken Carrillo-Tudela, Carlos Coles, Melvyn G. |
| Issue Date: | | 2009 |
| Series/Report no.: | | IZA discussion papers 4215 |
| 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. |
| Subjects: | | Search wage dispersion human capital accumulation |
| JEL: | | J24 J42 J64 |
| Persistent Identifier of the first edition: | | urn:nbn:de:101:1-20090619109 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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