Industry-specific capital and the wage profile: Evidence from the National Longitudinal Survey of Youth and the Panel Study of Income Dynamics

• 成果类型: Article
• 署名作者: Parent, D
• 署名单位: McGill University
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/209960
• 发表日期: 2000
• 页码: 306-323
• 关键词: displaced workers; job seniority; earnings; rise; firm

摘要

Using data from the National Longitudinal Survey of Youth (1979-96) and the Panel Study of Income Dynamics (1981-91), I seek to determine whether there is any net positive return to tenure with the current employer once we control for industry-specific capital. Including total experience in the industry as an additional explanatory variable, I show that the return to seniority is markedly reduced using GLS while it virtually disappears using IV-GLS, at both the one-digit and three-digit levels. Therefore, it seems that what matters most for the wage profile in terms of human capital is industry-specificity, not firm-specificity.