期刊名称：Discussion Papers in Economics / Department of Economics, Royal Holloway
出版年度：2010
卷号：2010
出版社：University of London
摘要：We present an equilibrium job search model of individual worker careers with human capital
accumulation, employer heterogeneity and individual-level shocks. We estimate our structural
model on Danish matched employer-employee data. Our main motivation for doing this is to
quantify the respective roles of human capital accumulation coming along with work experience
and job search in shaping individual labor earnings dynamics over the life cycle. The
structural model permits a decomposition of monthly wage growth into contributions from human
capital accumulation and from job search, within and between job spells. We find that
the job-search-related within-job effects dominates between-job effects. In relative terms, human
capital accumulation is quantitatively more important for wage growth vis-a-vis job search early
in workers careers, and its quantitative importance increases in workers educational attainment.
For the high-skilled, we find that human capital accounts for 50% of cumulated wage growth
between 5 and 20 years of experience. The fraction is substantially lower for lower skilled workers.
