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TIME‐VARYING EFFECTS OF HUMAN CAPITAL ON MILITARY RETENTION
Author(s) -
GLASER DARRELL J.
Publication year - 2011
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/j.1465-7287.2010.00220.x
Subject(s) - human capital , economics , duration (music) , unemployment , demographic economics , military service , labour economics , service (business) , hazard , monetary economics , econometrics , macroeconomics , economy , market economy , art , chemistry , literature , archaeology , organic chemistry , history
This paper examines how human capital acquired at the onset of a military career has an evolving effect on retention decisions. Using data of Marine officers that extends across 20‐year horizons, estimates of the hazard related to separation rates indicate that initial differences in general and firm‐specific human capital have time‐varying effects on retention across the duration of a career. Additional evidence suggests that the effects of higher economy‐wide unemployment as well as the onset of wars succeeding from September 2001 also change retention decisions and depend on officers' length of service. ( JEL J6, J41, J45)