Human capital and search models: a happy match

Capital humain et recherche d'emploi: un mariage heureux

Thierry Magnac

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Abstract: We review a tractable model of human capital investments that can accommodate lots of heterogeneity and we investigate its compatibility with some job search and equilibrium wage models that have been proposed in the literature. We show that the log wage equation derived from the combination of these set-ups is additively separable in the process of human capital investments and the dynamic effects of the job ladder under a few conditions among which strict liquidity constraints and exogeneity of search are prominent. This is the case in particular with the popular model proposed by Bagger, Fontaine, Postel-Vinay and Robin [2014] in which the predicted wage equation can be generalized to accommodate richer heterogeneous effects due to endogenous human capital accumulation.

Keywords: Human capital; Job search; Wage inequalities; Applied econometrics; Capital humain; Recherche d emploi; Inégalités de salaires; Econométrie appliquée (search for similar items in EconPapers)
Date: 2024
New Economics Papers: this item is included in nep-dge
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Published in Revue Economique, 2024, Search and matching (prospection et appariements), 75 (1), pp.11-30. ⟨10.3917/reco.751.0011⟩

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Journal Article: Human Capital and Search Models: A Happy Match (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04555926

DOI: 10.3917/reco.751.0011

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