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Tenure, Experience, Human Capital and Wages: A Tractable Equilibrium Search Model of Wage Dynamics

Jesper Bagger (), Francois Fontaine (), Fabien Postel Vinay and Jean-Marc Robin ()
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Fabien Postel Vinay: Département d'économie

Authors registered in the RePEc Author Service: Fabien Postel-Vinay ()

Sciences Po publications from Sciences Po

Abstract: We develop and estimate an equilibrium job search model of worker careers, allowing for human capital accumulation, employer heterogeneity and individual-level shocks. Monthly wage growth is decomposed into the contributions of human capital and job search, within and between jobs. Human capital accumulation is found to be the most important source of wage growth in early phases of workers’ careers, but is soon surpassed by search-induced wage growth. Conventional measures of the returns to tenure hide substantial heterogeneity between different workers in the same firm and between similar workers in different firms.

Date: 2011-08
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Related works:
Journal Article: Tenure, Experience, Human Capital, and Wages: A Tractable Equilibrium Search Model of Wage Dynamics (2014) Downloads
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) Downloads
Working Paper: Tenure, Experience, Human Capital and Wages: A Tractable Equilibrium Search Model of Wage Dynamics (2014) Downloads
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