Equilibrium Search with Human Capital Accumulation

H. Bunzel, Bent Jesper Christensen, Nicholas Kiefer () and L. Korsholm

Working Papers from Centre for Labour Market and Social Research, Danmark-

Abstract: The homogeneous search equilibrium model of Mortensen (1990) and Burdett and Mortensen (1998) is extended to allow on-the-job wage growth. The extension allows an improved empirical fit to the cross-section wage distribution. The estimation problem is nonregular but tractable. Estimated parameters are sensible and interpretable. The fit to the wage distribution is improved relative to homogeneous model but still not entirely satisfactory.

Keywords: PROGRAMMING; HUMAN CAPITAL; ECONOMIC EQUILIBRIUM (search for similar items in EconPapers)
JEL-codes: C23 C41 C51 J24 J41 J64 (search for similar items in EconPapers)
Pages: 19 pages
Date: 1999
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Citations: View citations in EconPapers (24)

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Chapter: Equilibrium Search with Human Capital Accumulation (2000)
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