Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/147990
Authors: 
Hendricks, Lutz
Year of Publication: 
2016
Series/Report no.: 
CFS Working Paper Series No. 558
Abstract: 
Returns to experience for U.S. workers have changed over the post-war period. This paper argues that a simple model goes a long way towards replicating these changes. The model features three well-known ingredients: (i) an aggregate production function with constant skill-biased technical change; (ii) cohort qualities that vary with average years of schooling; and crucially (iii) time-invariant ageefficiency profiles. The model quantitatively accounts for changes in longitudinal and cross-sectional returns to experience, as well as the differential evolution of the college wage premium for young and old workers.
Subjects: 
Returns to experience
College wage premium
JEL: 
E24
I26
J31
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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