Tenure, Experience, Human Capital, and Wages

Jesper Bagger, Francois Fontaine, Fabien Postel-Vinay and Jean-Marc Robin
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Jesper Bagger: RHUL - Royal Holloway [University of London]

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Abstract: We develop and estimate an equilibrium job search model of worker careers, allowing for human capital accumulation, employer heterogeneity and individual-level shocks. Wage growth is decomposed into contributions of human capital and job search, within and between jobs. Human capital accumulation is largest for highly educated workers. The contribution from job search to wage growth, both within- and between-job, declines over the first ten years of a career – the ‘job-shopping' phase of a working life – after which workers settle into high-quality jobs using outside offers to generate gradual wage increases, thus reaping the benefits from competition between employers.

Keywords: job search; worker careers; human capital; Human capital accumulation; Wage growth; Labor market competition (search for similar items in EconPapers)
Date: 2014-06
Note: View the original document on HAL open archive server: https://hal.science/hal-01301431v1
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Citations: View citations in EconPapers (2)

Published in American Economic Review, 2014, 104 (6), pp.1551 - 1596. ⟨10.1257/aer.104.6.1551⟩

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Working Paper: Tenure, Experience, Human Capital, and Wages (2014)
Working Paper: Tenure, Experience, Human Capital, and Wages (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:spmain:hal-01301431

DOI: 10.1257/aer.104.6.1551

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