Career Concerns and the Nature of Skills
Career Concerns and the Nature of Skills
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职业问题和技能的本质
DOI：
10.1257/mic.20160277
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发表时间：
2018
期刊：
影响因子：
--
通讯作者：
Gonzalo Cisternas
中科院分区：
文献类型：
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作者：
Gonzalo Cisternas
我研究如何职业生涯的关注是由工人采取的生产性行动的性质。一个工人的技能遵循高斯过程，其内生成分反映了人力资本积累。努力和技能在产出过程（如Holmstrom 1999）和技能技术中都是替代品。重点是凭借高斯学习的确定性均衡。当努力和技能是对生产的直接投入，而技能是外生的时，努力在职业生涯的开始阶段可能会效率低下。相反，当技能是生产的唯一投入，但通过过去的努力选择积累时，工人总是在技能获取方面投资不足。在差异的中心是两种类型的事后错误，出现在解释输出由于识别问题所面临的市场。最后，通过技术积累技术和信息结构的变化，探讨了投资不足结果的鲁棒性，并讨论了政策含义。
I examine how career concerns are shaped by the nature of productive actions taken by workers. A worker's skills follow a Gaussian process with an endogenous component reflecting human-capital accumulation. Effort and skills are substitutes both in the output process (as in Holmstrom 1999) and in the skills technology. The focus is on deterministic equilibria by virtue of Gaussian learning. When effort and skills are direct inputs to production and skills are exogenous, effort can be inefficiently high in the beginning of a career. In contrast, when skills are the only input to production but accumulate through past effort choices, the worker always underinvests in skill acquisition. At the center of the discrepancy are two types of ex post errors that arise at interpreting output due to an identification problem faced by the market. Finally, the robustness of the underinvestment result is explored via variations in the skill-accumulation technology and in the information structure, and policy implications are discussed.