Hansen, Gary D.; Imrohoroglu, Selahattin - In: Journal of Economic Theory 144 (2009) 6, pp. 2293-2309
We study the effects of on-the-job skill accumulation on average hours worked by age and the volatility of hours over the life cycle in a calibrated general equilibrium model. Two forms of skill accumulation are considered: learning by doing and on-the-job training. In our economy with learning...