OCCUPATIONAL SPECIFICITY OF HUMAN CAPITAL*

2009/01/28 by Gueorgui Kambourov, Iourii Manovskii · 20 citations
Economics, Econometrics and Finance · #Labor market dynamics and wage inequality #Fiscal Policy and Economic Growth #Economic theories and models

paper · doi:10.1111/j.1468-2354.2008.00524.x

Abstract

We find that returns to occupational tenure are substantial. Everything else being constant, 5 years of occupational tenure are associated with an increase in wages of 12%–20%. Moreover, when occupational experience is taken into account, tenure with an industry or employer has relatively little importance in accounting for the wage one receives. This finding is consistent with human capital being occupation specific.

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