Career concerns and the nature of skills.

Autor/in	Cisternas, Gonzalo
Titel	Career concerns and the nature of skills. Gefälligkeitsübersetzung: Karrierebelange und die Art von Qualifikationen.
Quelle	In: American economic journal. Microeconomics, 10 (2018) 2, S. 152-189 PDF als Volltext Link als defekt meldenVerfügbarkeit
Sprache	englisch
Dokumenttyp	online; gedruckt; Zeitschriftenaufsatz
ISSN	1945-7669; 1945-7685
DOI	10.1257/mic.20160277
Schlagwörter	Bildung; Erfahrungswissen; Arbeitsplatz; Bildung; Investition; Lernen; Berufserfahrung; Erfahrungswissen; Bildungsertrag; Bildungsertrag; Lernen; Investition; Arbeitsplatz; Berufserfahrung; On-the-Job-Training; Qualifikationsentwicklung
Abstract	"I examine how career concerns are shaped by the nature of productive actions taken by workers. A worker's skills follow a Gaussian process with an endogenous component reflecting human- capital accumulation. Effort and skills are substitutes both in the output process (as in Holmström 1999) and in the skills technology. The focus is on deterministic equilibria by virtue of Gaussian learning. When effort and skills are direct inputs to production and skills are exogenous, effort can be inefficiently high in the beginning of a career. In contrast, when skills are the only input to production but accumulate through past effort choices, the worker always underinvests in skill acquisition. At the center of the discrepancy are two types of ex post errors that arise at interpreting output due to an identification problem faced by the market. Finally, the robustness of the underinvestment result is explored via variations in the skill- accumulation technology and in the information structure, and policy implications are discussed." (Author's abstract, IAB-Doku).
Erfasst von	Institut für Arbeitsmarkt- und Berufsforschung, Nürnberg
Update	2018/4