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Title: Industry-Specific Capital and the Wage Profile: Evidence from the National Longitudinal Survey of Youth and the Panel Study of Income Dynamics
Resulting in 1 citation.
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Parent, Daniel |
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Industry-Specific Capital and the Wage Profile: Evidence from the National Longitudinal Survey of Youth and the Panel Study of Income Dynamics Journal of Labor Economics 18,2 (April 2000): 306-323. Also: http://www.jstor.org/stable/10.1086/209960 Cohort(s): NLSY79 Publisher: University of Chicago Press Keyword(s): Firms; Industrial Classification; Panel Study of Income Dynamics (PSID); Wages 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. |
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Bibliography Citation
Parent, Daniel. "Industry-Specific Capital and the Wage Profile: Evidence from the National Longitudinal Survey of Youth and the Panel Study of Income Dynamics." Journal of Labor Economics 18,2 (April 2000): 306-323.
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