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dc.contributor.authorCavounidis, Costasen_US
dc.contributor.authorLang, Kevinen_US
dc.date.accessioned2018-10-16T14:06:31Z
dc.date.available2018-10-16T14:06:31Z
dc.date.issued2017-04
dc.identifier.citationCostas Cavounidis, Kevin Lang. 2017. "Ben-Porath Meets Lazear: Lifetime Skill Investment and Occupation Choice with Multiple Skills." National Bureau of Economic Research Working Paper 23367.
dc.identifier.urihttps://hdl.handle.net/2144/31473
dc.description.abstractWe develop a fairly general and tractable model of investment when workers can invest in multiple skills and different jobs put different weights on those skills. In addition to expected findings such as that younger workers are more likely than older workers to respond to a demand shock by investing in skills whose value unexpectedly increases, we derive some less obvious results. Credit constraints may affect investment even when they do not bind it equilibrium. If there are mobility costs, firms will generally have an incentive to invest in some of their workers' skills even when there are a large number of similar competitors, and, in equilibrium, there can be overinvestment in all skills. Worker skill accumulation resembles learning by doing even in its absence. We demonstrate how the model can be simulated to show the effect of a shock to the price of individual skills.en_US
dc.subjectHuman capital investmenten_US
dc.subjectLife courseen_US
dc.subjectOccupational choiceen_US
dc.subjectEmployer-provided trainingen_US
dc.subjectLearning processen_US
dc.subjectTheoryen_US
dc.titleBen-Porath meets Lazear: lifetime skill investment and occupation choice with multiple skillsen_US
dc.typeArticleen_US
dc.description.versionOtheren_US
pubs.elements-sourcemanual-entryen_US
pubs.notesSource info: NBER Working Paper No. w23367en_US
pubs.notesEmbargo: No embargoen_US
pubs.notesThis is a working paper. Papers typically undergo significant revision between this stage and final publication. A more recent version may be available.en_US
pubs.organisational-groupBoston Universityen_US
pubs.organisational-groupBoston University, College of Arts & Sciencesen_US
pubs.organisational-groupBoston University, College of Arts & Sciences, Department of Economicsen_US
pubs.publication-statusPublisheden_US


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