largely attributable to human capital investments? Section 3 tests the proposition that over the working age capacity wages (i ….e. wages before netting out investment) decline before observed wages do. Implied timing of labor supply provides the test. The …

We develop a theory of the market for individual reputation, an indicator of regard by one's peers and others. The …

option values, the internal rate of return - a cornerstone of classical human capital theory - is not a useful guide to …

hours Granger -- cause wages at the individual level. The second test involves a simultaneous estimation of labor supply and … implements a pair of tests for the exogeneity of wages in a longitudinal labor supply model, and for the particular failure of … from the process generating wages, even when long time series are available on a sample of individuals …

sector bias of sbtc during the 1970s and 1980s. The hypothesis is also strongly supported by more structural estimation on U …

ability to generate new growth options. This simple theory predicts that Tobin's q falls with age. Further, competition in the …

larger impact on wages for 24-year-old men and women in 1986 than in 1978. For women, the increase in the return to cognitive …. We also show that high school seniors' mastery of basic cognitive skills had a much smaller impact on wages two years … after graduation than on wages six years after graduation …