Enriching a theory of wage and promotion dynamics inside firms

• 成果类型: Article
• 署名作者: Gibbons, R; Waldman, M
• 署名单位: Massachusetts Institute of Technology (MIT)
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/497819
• 发表日期: 2006
• 页码: 59-107
• 关键词: human-capital acquisition; labor-market; job mobility; young men; CONTRACTS; earnings; tournaments; experience; performance; turnover

摘要

In previous work, we showed that a model that integrates job assignment, human capital acquisition, and learning can explain several empirical findings concerning wage and promotion dynamics inside firms. In this article, we extend that model in two ways. First, we incorporate schooling and derive further testable implications that we then compare with the available empirical evidence. Second, and more important, we show that introducing task-specific human capital allows us to produce cohort effects. We further argue that task- specific human capital is a realistic concept and may have many important implications. We also discuss limitations of our (extended) approach.