| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2065 |
| DP2065 Time-series and Cross-section Information in Affine Term Structure Models | |
| Frank de Jong | |
| 发表日期 | 1999-02-28 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | This paper develops and estimates a human capital model of wage growth based on learning by doing. Learning by doing rates are assumed to be heterogeneous and firms offer different career structures in terms of the rate of acquisition of firm specific human capital. The model is estimated using a unique data set drawn from German administrative records and including a complete employment and earnings history for each worker in our sample. We find evidence of increased labour market attachments for individuals with higher returns to experience. This has important implications for the estimates. The estimated returns to experience are 2.7% a year. The returns to tenure are close to zero. Crucial identifying information is provided by plant closures. |
| 主题 | Labour Economics |
| 关键词 | Human capital Job mobility Matching Wage growth |
| URL | https://cepr.org/publications/dp2065 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531185 |
| 推荐引用方式 GB/T 7714 | Frank de Jong. DP2065 Time-series and Cross-section Information in Affine Term Structure Models. 1999. |
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