| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w4823
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| 来源ID | Working Paper 4823
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| The Transfer of Human Capital |
| Boyan Jovanovic; Yaw Nyarko
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| 发表日期 | 1994-08-01
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| 出版年 | 1994
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| 语种 | 英语
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| 摘要 | Most of our productive knowledge was handed down to us by previous generations. The transfer of knowledge from the old to the young is therefore a cornerstone of productivity growth. We study this process in a model in which the old sell knowledge to the young - - old workers train the young, and charge them for this service. We take an information-theoretic approach in which training occurs if a young agent watches an old worker perform a task. This assumption has plenty of empirical support -- in their first three months on the job, young workers spend about five times as long watching others work as they do in formal training programs. Equilibrium is not constrained Pareto optimal. The old have private information, and this gives rise to an adverse selection problem: some old agents manage to sell skills that the young would not buy (if only they knew exactly what they were buying). We derive the implications for the lifetime of technological lines, and we show that the model generates a negative relation between a firm's productivity and its probability of failure. |
| 主题 | Labor Economics
; Labor Supply and Demand
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| URL | https://www.nber.org/papers/w4823
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/562230
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推荐引用方式
GB/T 7714 |
Boyan Jovanovic,Yaw Nyarko. The Transfer of Human Capital. 1994.
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文件名：
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w4823.pdf
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格式：
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Adobe PDF
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