Measuring human capital in the labor market: The supply of experience in 8 OECD countries

Etienne Wasmer

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Abstract: To investigate the evolution of the supply side of the labor market, I derive a methodology to measure an important component of the human capital level of the workforce, the experience of the labor market. Based on the perpetual inventory method, a stock of experience is estimated for eight OECD countries. It appears that, during the last three decades, the OECD labor markets have faced a decline in the supply of experience by the labor market participants, with a minimum in the early 1980s for most countries and a recovery in the 1990s. Some implications regarding relative wages, relative unemployment and schooling are discussed.

Keywords: Human capital; Perpetual inventory method (search for similar items in EconPapers)
Date: 2001-05
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Citations: View citations in EconPapers (8)

Published in European Economic Review, 2001, 45 (4-6), pp.861 - 874. ⟨10.1016/S0014-2921(01)00113-1⟩

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Journal Article: Measuring human capital in the labor market: The supply of experience in 8 OECD countries (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03588636

DOI: 10.1016/S0014-2921(01)00113-1

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