Specific Capital, Mobility, and Wages: Wages Rise with Job Seniority
Specific Capital, Mobility, and Wages: Wages Rise with Job Seniority
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特定资本、流动性和工资：工资随着工作资历的增加而上涨
DOI：
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发表时间：
1990
影响因子：
8.2
通讯作者：
R. Topel
中科院分区：
文献类型：
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作者：
R. Topel
随着工作资历的积累，工资相对于替代品会上升，这一观点是专用性人力资本理论以及其他广泛接受的薪酬理论的基础。工作年限较长的人通常工资较高，这一事实往往支持这些观点，但这一证据忽略了调查数据中观察到的将个人带到工资、工作年限和经验相结合的决定。考虑到这些决定所产生的偏见来源，本文使用纵向数据来估计成年男性工作资历平均回报的下限。我发现，在美国，10年的工作资历可以使典型的男性工人的工资提高25%以上。这是一个估计，如果一个典型的工人的工作是外生的，他会失去什么。总的来说，证据表明，专用资本的积累是典型的雇佣关系的一个重要组成部分，也是生命周期收入和生产力的一个重要组成部分。这些关系的延续对工人具有实质性的具体价值。
The idea that wages rise relative to alternatives as job seniority accumulates is the foundation of the theory of specific human capital, as well as other widely accepted theories of compensation. The fact that persons with longer job tenures typically earn higher wages tends to support these views, yet this evidence ignores the decisions that have brought individuals to the combination of wages, job tenure, and experience that are observed in survey data. Allowing for sources of bias generated by these decisions, this paper uses longitudinal data to estimate a lower bound on the average return to job seniority among adult men. I find that 10 years of current job seniority raise the wage of the typical male worker in the United States by over 25 percent. This is an estimate of what the typical worker would lose if his job were to end exogenously. Overall, the evidence implies that accumulation of specific capital is an important ingredient of the typical employment relationship and of life cycle earnings and productivity as well. Continuation of these relationships has substantial specific value for workers.