haku: @indexterm older workers / yhteensä: 90
viite: 39 / 90
| Tekijä: | Topel, R. |
| Otsikko: | Special capital, mobility, and wages: wages rise with job seniority |
| Lehti: | Journal of Political Economy
1991 : FEB, VOL. 99:1, p. 145-176 |
| Asiasana: | PAY LABOUR MOBILITY PAY DIFFERENTIALS OLDER WORKERS MALE WORKERS USA EARNINGS CAPITAL PRODUCTIVITY |
| Kieli: | eng |
| Tiivistelmä: | The idea that wages rise as job seniority accumulates is the foundation of the theory of specific human capital. A longitudinal data is used to estimate a lower bound on the average return to job seniority among adult men. It is shown that 10 years of current job seniority raise the wage of the typical male worker in the United States by over 25 percent. This is an estimate of what the typical worker would lose if his job were to end exogenously. Overall, the evidence implies that accumulation of specific capital is an important ingredient of the typical employment relationship and of life cycle earnings and productivity as well. Continuation of these relationships has substantial specific value for workers. |
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