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Author: Park, Seonyoung
Resulting in 4 citations.
1. Park, Seonyoung
Returning to School for Higher Returns
Economics of Education Review 30,6 (December 2011): 1215-1228.
Also: http://www.sciencedirect.com/science/article/pii/S0272775711001099
Cohort(s): NLSY79
Publisher: Elsevier
Keyword(s): Modeling, Fixed Effects; Risk-Taking; Schooling; Wage Rates; Wages

On the basis of those respondents in the National Longitudinal Survey of Youth (NLSY) who change jobs with an intervening period of education reinvestment, the conventional assumption of linearity of log wages in years of schooling is strongly rejected: a typical reinvestment for the 1980 through 1993 period is associated with a rise of about 3.5 percentage points in the estimated return to an additional year of schooling. The estimated marginal rate of return generally rises in the former education level, and reaches the maximum at 15 years of the former level (therefore 16 years of education after reinvestment), where an additional year of investment is associated with a rise in real hourly rate of pay by approximately 20%. Evidence also shows that, while the level of individuals’ risk tolerance affects significantly the probability of returning to school, correcting for sample selectivity makes little difference in the results. Findings in the current paper survive a variety of robustness tests. The current cohort-based evidence is more helpful than existing evidence from cross-sectional data to individuals making schooling decisions.
Bibliography Citation
Park, Seonyoung. "Returning to School for Higher Returns." Economics of Education Review 30,6 (December 2011): 1215-1228.
2. Park, Seonyoung
Returns to Human Capital and Explaining the Recent Decline of Married Women's Labor Supply: A Cohort Approach
Ph.D. Dissertation, University of Minnesota, 2013
Cohort(s): NLSY79
Publisher: ProQuest Dissertations & Theses (PQDT)
Keyword(s): Educational Attainment; Educational Returns; Human Capital; Wages

Permission to reprint the abstract has not been received from the publisher.

Essay Two focuses on how returns change as individuals increase human capital investment over the course of their work career. On the basis of those respondents in the National Longitudinal Survey of Youth (NLSY) who change jobs with an intervening period of education reinvestment, the conventional assumption of linearity of log wages in years of schooling is strongly rejected. The estimated marginal rate of return generally rises in the former education level, and reaches the maximum at 15 years of the former level (therefore 16 years of education after reinvestment), where an additional year of investment is associated with a rise in real hourly rate of pay by approximately 20 percent. The current cohort-based evidence is more helpful than existing evidence from cross-sectional data to individuals making schooling decisions.
Bibliography Citation
Park, Seonyoung. Returns to Human Capital and Explaining the Recent Decline of Married Women's Labor Supply: A Cohort Approach. Ph.D. Dissertation, University of Minnesota, 2013.
3. Park, Seonyoung
Shin, Donggyun
Explaining Procyclical Male-Female Wage Gaps
Economics Letters 88,2 (August 2005): 231-235.
Also: http://www.sciencedirect.com/science/article/pii/S0165176505001126
Cohort(s): NLSY79
Publisher: Elsevier
Keyword(s): Gender Differences; Occupational Choice; Occupations; Wages; Work Hours

Our analysis based on the National Longitudinal Survey of Youth for the 1978-1999 period concludes that men's greater representation in cyclical occupational groups, such as craftsmen, operatives, and laborers, more than accounts for the gap between men and women in the cyclicality of real wages. [ABSTRACT FROM AUTHOR]
Bibliography Citation
Park, Seonyoung and Donggyun Shin. "Explaining Procyclical Male-Female Wage Gaps." Economics Letters 88,2 (August 2005): 231-235.
4. Shin, Donggyun
Shin, Kwanho
Park, Seonyoung
Are Initial Wage Losses of Intersectoral Movers Compensated for by Their Subsequent Wage Gains?
Macroeconomic Dynamics 14,4 (September 2010): 501-526.
Also: http://EconPapers.repec.org/RePEc:cup:macdyn:v:14:y:2010:i:04:p:501-526_09
Cohort(s): NLSY79
Publisher: Cambridge University Press
Keyword(s): Mobility; Mobility, Labor Market; Panel Study of Income Dynamics (PSID); Unemployment; Wage Differentials; Wage Growth; Wage Levels

Permission to reprint the abstract has not been received from the publisher.

This paper presents an equilibrium explanation of the inter- and intrasectoral mobility of workers. Analyses of our samples from the Panel Study of Income Dynamics and the National Longitudinal Survey of Youth show that, other things being equal, the initial wage decline is greater for intersectoral movers than for intrasectoral movers. Intersectoral movers, however, enjoy higher wage growth in subsequent years on postunemployment jobs than intrasectoral movers do, and hence are compensated for their initial wage decline. Our estimates suggest that, other things being constant, the additional short-term wage loss associated with sector shifts is overturned in no more than four years by the greater wage growth of intersectoral movers in subsequent years. The findings in the current study clearly show that the true economic costs of intersector mobility tend to be overstated in existing studies and are significantly lowered in the long-term perspective. Calibration of a simple lifetime utility model demonstrates that inter- and intrasectoral movements of workers are quantitatively consistent with an equilibrium framework, at least for a major group of workers who move with longer term perspectives. Evidence also shows that job seekers consider not only the initial wage rate but also the subsequent wages received from the postunemployment job when deciding whether to recommence employment or switch sectors.
Bibliography Citation
Shin, Donggyun, Kwanho Shin and Seonyoung Park. "Are Initial Wage Losses of Intersectoral Movers Compensated for by Their Subsequent Wage Gains?" Macroeconomic Dynamics 14,4 (September 2010): 501-526.