EconPapers    
Economics at your fingertips  
 

Life-Cycle Wage Growth and Heterogeneous Human Capital

Carl Sanders and Christopher Taber ()
Additional contact information
Christopher Taber: Department of Economics, University of Wisconsin-Madison, Madison, Wisconsin 53706

Annual Review of Economics, 2012, vol. 4, issue 1, 399-425

Abstract: Wages grow rapidly for young workers, and the human capital investment model is the classic framework to explain this growth. While estimation and the theory of human capital have traditionally focused on general human capital, both have evolved toward models of heterogeneous human capital. In this article, we review and evaluate the current state of this literature. We exposit the classic model of general human capital investment and extend it to show how a model of heterogeneous human capital can nest previous models. We then summarize the empirical literature on firm-specific human capital, industry- and occupation-specific human capital, and task-specific human capital and discuss how these concepts can explain a wide variety of labor market phenomena that traditional models cannot.

Keywords: task-specific human capital; occupation; industry (search for similar items in EconPapers)
JEL-codes: J24 J3 J62 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (25) Track citations by RSS feed

Downloads: (external link)
http://www.annualreviews.org/doi/abs/10.1146/annurev-economics-080511-111011 (application/pdf)
Full text downloads are only available to subscribers. Visit the abstract page for more information.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:anr:reveco:v:4:y:2012:p:399-425

Ordering information: This journal article can be ordered from
http://www.annualreviews.org/action/ecommerce

Access Statistics for this article

More articles in Annual Review of Economics from Annual Reviews Annual Reviews 4139 El Camino Way Palo Alto, CA 94306, USA.
Bibliographic data for series maintained by http://www.annualreviews.org ().

 
Page updated 2019-03-31
Handle: RePEc:anr:reveco:v:4:y:2012:p:399-425