Human capital formation in the labour market

Juan F Jimeno, Aitor Lacuesta (), Marta Martínez-Matute () and Ernesto Villanueva

Economic Bulletin, 2017, issue DEC, No 33

Abstract: The data from the OECD’s Programme for the International Assessment of Adult Competences (PIAAC) allow comparable measures of several aspects of human capital in 13 developed economies to be obtained. Drawing on these data, this article shows that work experience improves the numeracy and literacy skills of low-educated workers, a result that is observed in economies with different labour market institutions, educational systems and workforce compositions. The analyses performed suggest that on-the-job learning contributes considerably to the human capital of less educated individuals, which may help steer the formulation of active employment policies.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:bde:journl:y:2017:i:12:d:aa:n:33

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