Job Ladders, Human Capital, and Wage Inequality over Time

Lance Lochner and Burhanettin Kuruscu
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Burhanettin Kuruscu: University of Texas - Austin

No 678, 2009 Meeting Papers from Society for Economic Dynamics

Abstract: Based on our estimates (in progress), we plan to analyze how and why the following have changed over time and across cohorts: (i) overall and within-group wage inequality, (ii) lifecycle wage growth, (iii) job promotion rates, (iv) implied on-the-job investment. We are particularly interested in the role played by the baby boom vs. technological change. We will also explore the extent to which our framework can help explain the productivity slowdown as a potential response to the baby boom. Estimates from our model with multiple job types can be compared against those for a model with a single job (maintaining Ben-Porath style investment behavior) as in Hugget, Ventura and Yaron (2006) to determine the importance of allowing for imperfect substitutability across workers in different jobs. We also discuss policies to foster human capital investment, especially for workers in low paying (i.e. low cost) jobs.

Date: 2009
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