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OCCUPATIONAL SPECIFICITY OF HUMAN CAPITAL *
Author(s) -
Kambourov Gueorgui,
Manovskii Iourii
Publication year - 2009
Publication title -
international economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.658
H-Index - 86
eISSN - 1468-2354
pISSN - 0020-6598
DOI - 10.1111/j.1468-2354.2008.00524.x
Subject(s) - human capital , wage , labour economics , economics , capital (architecture) , occupational licensing , microeconomics , economic growth , geography , archaeology
We find that returns to occupational tenure are substantial. Everything else being constant, 5 years of occupational tenure are associated with an increase in wages of 12%–20%. Moreover, when occupational experience is taken into account, tenure with an industry or employer has relatively little importance in accounting for the wage one receives. This finding is consistent with human capital being occupation specific.