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Title: The Impact of Psychological and Human Capital on Wages
Resulting in 1 citation.
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Goldsmith, Arthur H. Veum, Jonathan R. Darity, William A. Jr. |
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The Impact of Psychological and Human Capital on Wages Economic Inquiry 35,4. (October 1997): 815-829. Also: http://onlinelibrary.wiley.com/doi/10.1111/j.1465-7295.1997.tb01966.x/abstract Cohort(s): NLSY79 Publisher: Western Economic Association International Keyword(s): Human Capital; Locus of Control (see Rotter Scale); Manpower Programs; Occupational Choice; Psychological Effects; Self-Esteem; Training, Occupational; Training, On-the-Job; Wages Historically, economists have taken the position that psychological capital is either unobservable or unmeasurable; thus, heretofore, little evidence has been available on the contribution of psychological capital to wages. Using data drawn from two different waves of the National Longitudinal Survey of Youth, the authors offer evidence that psychological capital has both a direct effect--via self-esteem--and an indirect effect--through locus of control--on an individual's real wage. They find a person's wage is more sensitive to changes in self-esteem than to comparable alterations in human capital. Both relative wages and human capital contribute to self-esteem. |
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Bibliography Citation
Goldsmith, Arthur H., Jonathan R. Veum and William A. Jr. Darity. "The Impact of Psychological and Human Capital on Wages." Economic Inquiry 35,4. (October 1997): 815-829.
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