LIFETIME UNCERTAINTY, HUMAN CAPITAL AND PHYSICAL CAPITAL
نویسندگان
چکیده
منابع مشابه
Physical Capital, Human Capital Distribution of Earnings
The relationship between physical capital. human capital and the distribution of turnings is examined empirically using cross-sectional microdata within SklSAs. Comprtrarive advantage in workers and a scale-of-resources effect among firms is predicted to lead to a rel~ti~)n~hip between capital and earnings. The level of earnings is found to be positively related to capital intensity and nrgntiv...
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We develop a model of retirement and human capital investment to study the effects of tax and retirement policies. Workers choose the supply of raw labor (career length) and also the human capital embodied in their labor. Our model explains a significant fraction of the US-Europe difference in schooling and retirement. The model predicts that reforms of the European retirement policies modeled ...
متن کاملPhysical Capital, Human Capital and the Distribution of Earnings
The relationship between physical capital, human capital and the distribution of earnings is examined empirically using cross-sectional microdata within SMSAs. Comparative advantage in workers and a scale-of-resources effect among firms is predicted to lead to a relationship between capital and earnings. The level of earnings is found to be positively related to capital intensity and negatively...
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This paper studies an economy in which there is a trade-off between general and specific human capital. The trade-off arises because general human capital, while less productive, can ex-post be reallocated across firms. We show that the fraction of individuals with specific human capital is strictly decreasing in the extent of uncertainty in the economy, modelled as an informative signal that f...
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In this paper we extend the standard human capital model with the probability of becoming unemployed and uncertainty about future earnings. Our analysis deviates from earlier human capital cum uncertainty models in assuming risk neutral decision-makers. This allows a straightforward comparison with the standard model and also facilitates calculations of unemployment and uncertainty accounted ra...
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ژورنال
عنوان ژورنال: Economic Inquiry
سال: 1976
ISSN: 0095-2583,1465-7295
DOI: 10.1111/j.1465-7295.1976.tb00431.x