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Ben-Porath Meets Lazear : Lifetime Skill Investment and Occupation Choice with Multiple Skills

Cavounidis, Costas - 2017

We develop a fairly general and tractable model of investment when workers can invest in multiple skills and different jobs put different weights on those skills. In addition to expected findings such as that younger workers are more likely than older workers to respond to a demand shock by...

Persistent link: https://www.econbiz.de/10012957348

Business Cycle Fluctuations and the Life Cycle : How Important is On-the-Job Skill Accumulation?

Hansen, Gary D. - 2010

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...

Persistent link: https://www.econbiz.de/10012759693

Employer Learning and the Signaling Value of Education

Altonji, Joseph G.; Pierret, Charles R. - 2021

If profit maximizing firms have limited information about the general productivity of new workers, they may choose to use easily observable characteristics such as years of education to 'statistically discriminate' among workers. The pure credential value of education will depend on how quickly...

Persistent link: https://www.econbiz.de/10013228624

Technological Learning and Labor Market Dynamics

Gervais, Martin - 2013

The search-and-matching model of the labor market fails to match two important business cycle facts: (i) a high … in the speed of technological learning and show that a search-and-matching model featuring such shocks can account for …

Persistent link: https://www.econbiz.de/10013071305

Matching Capital and Labor

Berk, Jonathan - 2014

We establish an important role for the firm by studying capital reallocation decisions of mutual fund firms. At least 30% of the value mutual fund managers add can be attributed to the firm's role in efficiently allocating capital amongst its mutual fund managers. We find no evidence of a...

Persistent link: https://www.econbiz.de/10013053836

Heterogeneity and Cyclical Unemployment

Bils, Mark; Chang, Yongsung; Kim, Sun-Bin - 2021

We model worker heterogeneity in the rents from being employed in a Diamond-Mortensen-Pissarides model of matching and …

Persistent link: https://www.econbiz.de/10013311946

Ability and Employer Learning : Evidence from the Economist Labor Market

Oyer, Paul - 2010

I study the human capital development and firm-worker matching processes for PhD economists. This group is useful for … (that is, publications.) I derive a two-period model to motivate an empirical analysis of economist job matching upon … graduation, matching ten years later, and productivity in the first ten years. I show that matching to a higher ranked …

Persistent link: https://www.econbiz.de/10012760294

Employer Learning and the Dynamics of Returns to Universities : Evidence from Chinese Elite Education During University Expansion

Démurger, Sylvie - 2019

This paper estimates the return to an elite university education over a college graduate's career in contemporary China. We find a substantial premium for graduating from an elite Chinese university at the job entry that declines quickly in early career before starting to recover subsequently....

Persistent link: https://www.econbiz.de/10012868184

Understanding Corporate Governance Through Learning Models of Managerial Competence

Hermalin, Benjamin E. - 2014

A manager's shareholders, board of directors, and potential future employers are continually assessing his ability. A rich literature has documented that this insight has profound implications for corporate governance because assessment generates incentives (good and bad), introduces assorted...

Persistent link: https://www.econbiz.de/10013055514

Scale and Skill in Active Management

Pastor, Lubos - 2014

We empirically analyze the nature of returns to scale in active mutual fund management. We find strong evidence of decreasing returns at the industry level: As the size of the active mutual fund industry increases, a fund's ability to outperform passive benchmarks declines. At the fund level,...

Persistent link: https://www.econbiz.de/10013059086

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