Time preference is a key determinant of occupational choice and investments in human capital. Since careers are characterized by different wage growth prospects, individual discount rates play an important role in the relative valuation of jobs or occupations. We predict that individuals with...

Time preference is a key determinant of occupational choice and investments in human capital. Since careers are characterized by different wage growth prospects, individual discount rates play an important role in the relative valuation of jobs or occupations. We predict that individuals with...

A large portion of the variation in wages and wage growth rates among individuals is due to "unobserved" heterogeneity, and the source of individual heterogeneity is typically attributed to data limitations and/or the unobservability of certain productivity related factors. In this paper we...

A large fraction of the variation in wage levels and wage growth rates among individuals remains unexplained. Economists argue that "unobserved" heterogeneity is among the more likely reasons for this unexplained variation in wages. The source of individual heterogeneity is typically attributed...

A large portion of the variation in wages and wage growth rates among individuals is due to "unobserved" heterogeneity, and the source of individual heterogeneity is typically attributed to data limitations and/or the unobservability of certain productivity related factors. In this paper we...

Abstact We present empirical evidence on gender disparities in wage returns to job tenure and experience. We find that the overall wage return on an extra year of labor market experience is lower for women than men. A decomposition analysis shows that the wage return to job tenure is...

Turnover falls with tenure ¡ª this is one of the best established empirical regularities of labor economics ¡ª but finding a tenure effect on wages seems to be very hard. Within-job wage cuts do not seem very uncommon either. We reconcile these findings by revisiting an old question: how...