Tenure, Experience, Human Capital and Wages: A Tractable Equilibrium Search Model of Wage Dynamics
Francois Fontaine (),
Fabien Postel Vinay and
Jean-Marc Robin ()
Additional contact information
Jesper Bagger: Royal Holloway, University of London
Fabien Postel Vinay: Département d'économie
Authors registered in the RePEc Author Service: Fabien Postel-Vinay ()
Sciences Po publications from Sciences Po
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: Human capital accumulation; Wage growth; Labor market competition (search for similar items in EconPapers)
JEL-codes: J24 J31 J63 J64 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-gro and nep-hrm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (52) Track citations by RSS feed
Published in American Economic Review, 2014, vol. 104, pp.1551-1596
Downloads: (external link)
https://spire.sciencespo.fr/hdl:/2441/7rep5mp5ij95 ... ce-human-capital.pdf (application/pdf)
Journal Article: Tenure, Experience, Human Capital, and Wages: A Tractable Equilibrium Search Model of Wage Dynamics (2014)
Working Paper: Tenure, Experience, Human Capital, and Wages: A Tractable Equilibrium Search Model of Wage Dynamics (2014)
Working Paper: Tenure, experience, human capital and wages: a tractable equilibrium search model of wage dynamics (2014)
Working Paper: Tenure, Experience, Human Capital and Wages: A Tractable Equilibrium Search Model of Wage Dynamics (2011)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spo:wpmain:info:hdl:2441/7rep5mp5ij95l94ec64n5tdclp
Access Statistics for this paper
More papers in Sciences Po publications from Sciences Po Contact information at EDIRC.
Bibliographic data for series maintained by Spire @ Sciences Po Library ().