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Title: The Relation Between the Rate of Return to Tenure, Earnings Growth, and Job Switching
Resulting in 1 citation.
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Olsen, Randall J. |
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The Relation Between the Rate of Return to Tenure, Earnings Growth, and Job Switching Presented: San Diego, CA, Western Economics Association Meetings, 1990. Cohort(s): NLSY79 Publisher: Western Economic Association International Keyword(s): Earnings; Gender Differences; Illegal Activities; Job Tenure; Job Turnover; Mobility; Quits; Racial Differences; Substance Use; Wages The problem of estimating the rate of return to job-specific versus general human capital is attacked by specifying a model for the duration of job holdings based upon an underlying Weiner process for the evolution of the wage rate on the incumbent job, and another Weiner process for the wage on the best alternative job. The model jointly estimates job duration and the change in starting wages across job holdings. Drift in the incumbent wage process reveals the rate of return to job-specific plus general human capital, whereas the drift in the alternative wage reflects only the return to general human capital. The model estimates the importance of firm behavior that might reflect bonding to retard mobility. The duration of job holdings and the presence of incomplete spells for the duration until a voluntary job change become an essential part of separating the return to job-specific versus general human capital. |
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Bibliography Citation
Olsen, Randall J. "The Relation Between the Rate of Return to Tenure, Earnings Growth, and Job Switching." Presented: San Diego, CA, Western Economics Association Meetings, 1990.. |