Equilibrium Search with Human Capital Accumulation.

The homogeneous search equilibrium model of Mortensen (1990) and Burdett and Mortensen (1998) is extended to allow on-the-job wage growth. The extension allows an improved empirical fit to the cross-section wage distribution. The estimation problem is nonregular but tractable. Estimated parameters are sensible and interpretable. The fit to the wage distribution is improved relative to homogeneous model but still not entirely satisfactory.

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Year of publication:	1999
Authors:	Bunzel, H. ; Christensen, B.J. ; Kiefer, N.M. ; Korsholm, L.
Institutions:	School of Economics and Management, Institut for Økonomi
Subject:	PROGRAMMING \| HUMAN CAPITAL \| ECONOMIC EQUILIBRIUM

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Series:	Centre for Labour Market and Social Research, Danmark-.
Type of publication:	Book / Working Paper
Notes:	19 pages
Classification:	C23 - Models with Panel Data ; C41 - Duration Analysis ; C51 - Model Construction and Estimation ; J24 - Human Capital; Skills; Occupational Choice; Labor Productivity ; J41 - Contracts: Specific Human Capital, Matching Models, Efficiency Wage Models, and Internal Labor Markets ; J64 - Unemployment: Models, Duration, Incidence, and Job Search
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005646974