Working and Training: A Nonlinear Dynamic Analysis of Human Capital Development

Kazuo Nishimura, Tadashi Yagi () and Makoto Yano

The Japanese Economic Review, 2004, vol. 55, issue 2, 119-140

Abstract: We tend to think of workers completing their education and then entering the workforce, where they will gradually develop their skills. In fact, however, a worker's career may be characterized not only by this gradual buildup of job‐related skills but also by recurrent education, i.e. the phenomenon whereby a worker alternates between earning‐intensive periods and training‐intensive periods along his career path. In this study, we build a dynamic optimization model of earning/training decisions of a worker in which these patterns of his career path can be explained in an integrated manner.

Date: 2004
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