An Equilibrium Search Model with Capital Accumulation.

We extend the basic equilibrium search model of Burdett-Mortnesen with a human capital accumulating wage function and solve for the new equilibrium distribution of wages. We find an equilibrium distribution of earned wages with no upper bound of the support and with density having a decreasing tail. We develop methods for estimating the wage growth parameter super-consistently at rate n and we implement our method on a data example.

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Year of publication:	1998
Authors:	Korsholm, L.
Institutions:	School of Economics and Management, Institut for Økonomi
Subject:	UNEMPLOYMENT \| WAGES \| MODELS \| JOB SEARCHING Aarhus C \| Danmark.40p

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Series:	Centre for Labour Market and Social Research, Danmark-.
Type of publication:	Book / Working Paper
Classification:	C13 - Estimation ; C33 - Models with Panel Data ; C41 - Duration Analysis ; C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; C72 - Noncooperative Games ; J24 - Human Capital; Skills; Occupational Choice; Labor Productivity ; J31 - Wage Level and Structure; Wage Differentials by Skill, Training, Occupation, etc ; J41 - Contracts: Specific Human Capital, Matching Models, Efficiency Wage Models, and Internal Labor Markets ; J42 - Monopsony; Segmented Labor Markets ; J64 - Unemployment: Models, Duration, Incidence, and Job Search
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005783422