Sector-Specific Human Capital and the Distribution of Earnings

被引:2
|
作者
Smith, Eric [1 ,2 ]
机构
[1] Fed Reserve Bank Atlanta, Atlanta, GA USA
[2] Univ Essex, Colchester CO4 3SQ, Essex, England
关键词
TECHNOLOGICAL-CHANGE; WAGE INEQUALITY; SPECIALIZATION;
D O I
10.1086/655467
中图分类号
F [经济];
学科分类号
02 ;
摘要
This paper demonstrates the way in which assignment frictions-the limited ability of workers to find jobs in which they have a comparative advantage-affect the level and composition of human capital acquisition as well as the distribution of income. As workers become more likely to find their preferred job, they specialize more. Specialization raises expected income. It also exposes workers to a greater downside loss when the more desired employment opportunities are unavailable. More specialization thereby raises the earnings divide between those who match well and those who do not, which under some conditions leads to greater inequality.
引用
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页码:35 / 61
页数:27
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