Earnings functions, specific human capital, and job matching: Tenure bias is negative

• 成果类型: Article
• 署名作者: Stevens, M
• 署名单位: University of Oxford; University of Oxford
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/376958
• 发表日期: 2003
• 页码: 783-805
• 关键词: wages rise; seniority; INVESTMENT; LABOR

摘要

This article investigates the hypothesis that when measures of specific human capital ( such as job tenure) are included in earnings functions, there may be a sample selection bias because of job-matching effects because workers with high unobserved match quality receive and accept high wage offers. We develop a model for wage offers in a labor market characterized by both specific human capital and job matching. The model provides a theoretical basis for empirical earnings functions containing specific capital, and it demonstrates that sample selection bias reduces the estimated return to specific human capital and tenure.