The hypothesis that minimum wages tend to discourage on the job training is largely supported by our empirical analysis. Direct effects on reported job training and corollary effects on wage growth as estimated in microdata of the National Longitudinal Samples (NLS) and Michigan Income Dynamics...

A major benefit of education is the lower risk of unemployment at higher educational levels. In PSID (Panel Study of Income Dynamics) data on the male labor force1 the reduction of the incidence of unemployment is found to be far more important than the reduced duration of unemployment in...

Individuals differ in both inherited and acquired abilities, but only the latter differ among countries and time periods. Human capital analysis deals with acquired capabilities which are developed through formal and informal education at school and at home, and through training, experience, and...

The traditional studies of income distribution, a field with which economists are becoming increasingly concerned, must be described as basically sociological. The ascendancy of the human capital approach can be viewed as a reaction of economists to this non-economic, though certainly not...

Differences in wages between skill groups declined in the 1970's and rose in the 1980's, but aggregate wage inequality grew throughout the period. This divergence remains a puzzle in recent studies of U.S. wage inequality. In this paper the sometimes divergent paths of inter-group and...

After a brief summary of Ben Porath's 1967 model approach, I enquire into the empirical validity and some implications of his insights. Section 2 is an attempt to answer the question: Are the shapes and magnitudes of growth in wage profiles largely attributable to human capital investments?...

The more education, the less unemployment of women; this relationship is as strong as it is in the male labor force. The channel through which this relation arises is also the same, namely, labor turnover, almost half of which involves unemployment. However, the relation between education and...

The major purpose of this study was to detect effects of technologically based changes in demand for human capital on the educational and experience wage structure in annual CPS data, 1963 to 1987. Major findings are: 1. Year-to-year educational wage differentials are quite closely tracked by...

Using information on time costs of training and gains in wages attributable to training I computed rates of return on training investments. The range of estimates based on several data sets generally exceeds the magnitudes of rates of return usually observed for schooling investments. It is not...

In a broad sense, the relation of human capital to economic growth is reciprocal. This study focuses more narrowly on labor market consequences of human capital adjustments to the pace of technological change. Using Jorgensons multifactor productivity growth indexes for industrial sectors in the...