Multidimensional Skill Mismatch

• 成果类型: Article
• 署名作者: Guvenen, Fatih; Kuruscu, Burhanettin; Tanaka, Satoshi; Wiczer, David
• 署名单位: University of Minnesota System; University of Minnesota Twin Cities; National Bureau of Economic Research; University of Toronto; University of Queensland; State University of New York (SUNY) System; Stony Brook University
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.20160241
• 发表日期: 2020
• 页码: 210-244
• 关键词: job mobility; wages rise; life-cycle; specificity; CHOICE; youth

摘要

What determines the earnings of a worker relative to his peers in the same occupation? What makes a worker fail in one occupation but succeed in another? More broadly, what are the factors that determine the productivity of a worker-occupation match? To help answer questions like these, we propose an empirical measure of multidimensional skill mismatch that is based on the discrepancy between the portfolio of skills required by an occupation and the portfolio of abilities possessed by a worker for learning those skills. This measure arises naturally in a dynamic model of occupational choice and human capital accumulation with multidimensional skills and Bayesian learning about one's ability to learn skills. Not only does mismatch depress wage growth in the current occupation, it also leaves a scarring effect-by stunting skill acquisition-that reduces wages in future occupations. Mismatch also predicts different aspects of occupational switching behavior. We construct the empirical analog of our skill mismatch measure from readily available US panel data on individuals and occupations and find empirical support for these implications. The magnitudes of these effects are large: moving from the worst- to best-matched decile can improve wages by 11 percent per year for the rest of one's career.