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The Economics of Has-Beens

MacDonald, Glenn; Weisbach, Michael S. - 2021

Evolution of technology causes human capital to become obsolete. We study this phenomenon in an overlapping generations setting, assuming it is hard to predict how technology will evolve, and that older workers find updating uneconomic. Among our results is the proposition that (under certain...

Persistent link: https://www.econbiz.de/10013215692

The Economics of Has-Beens

MacDonald, Glenn - 2001

Persistent link: https://www.econbiz.de/10012470254