Human capital and the business cycle effects on the postgraduate wage premium
نویسندگان
چکیده
Postgraduate degree holders experience lower cyclical variation in real wages than those with undergraduate degrees. Moreover, postgraduate jobs require more specific human capital. Using an equilibrium search model dynamic incentive contracts, this paper attributes the cyclicality of postgraduate-undergraduate wage gap to differences Greater capital leads mobility, thereby improving risk-sharing between workers and firms. The estimates reveal that can explain both labour turnover education groups.
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ژورنال
عنوان ژورنال: Review of Economic Dynamics
سال: 2023
ISSN: ['1096-6099', '1094-2025']
DOI: https://doi.org/10.1016/j.red.2022.07.001