Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/20057
Authors: 
Lazear, Edward P.
Year of Publication: 
2003
Series/Report no.: 
IZA Discussion paper series 813
Abstract: 
One problem with the theory of firm-specific human capital is that it is difficult to generate convincing examples of investment that could generate the sometimes observed large and continuing effects on earnings. Another approach, called the ?skill-weights? view, allows all skills to be general in that there are other firms that use the each of the skills. But firms use them in different combinations and with different weights attached to them. The skill-weights view not only has aesthetic appeal, but is consistent with the frequently observed large tenure effects. All of the implications of the traditional view are produced by this approach, and there are a number of other implications that distinguish the new view from the traditional one. The empirical evidence already contains some support for the skill-weights view.
Subjects: 
human capital
skills
skill-weights
JEL: 
J24
M5
Document Type: 
Working Paper

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