Wage Dynamics with Private Learning-by-Doing and On-the-Job Search
2015/12/18
研討會日期 : 2015-12-18
時間 : 14:30
主講人 : Professor Seung-Gyu (Andrew) Sim
主持人 : Professor Hsuan-Chin Lin
地點 : Conference Room B110
演講者簡介 : Professor Sim received his Ph.D. in Economics from University of Wisconsin-Madison in 2010. He is currently an Assistant Professor of Economics at University of Tokyo. His research fields are Labor Economics, Macroeconomics, and Applied Microeconomics.
演講摘要 : This paper develops an equilibrium job search model in which the employed worker privately accumulates human capital and continually searches for a better paying job. Firms encourage production and discourage turnover by rewarding with bonus payments and long service allowances, respectively, workers with better performance and longer job tenure. Wage growth attends human capital accumulation (productive promotion) and job tenure (non-productive promotion) as well as job-to-job transition. The model is estimated using indirect inference to investigate the effect of human capital accumulation on individual wage growth. In NLSY79 data, the average wage of white male high school graduates after 20 years of market experience is 1.88 times higher than the average of the first full-time wages. A counterfactual experiment using the structural parameter estimates shows that the wage of a typical worker unable to accumulate human capital would grow by 41.8%.
