Human capital accumulation of salaried and self-employed workers
Human capital accumulation of salaried and self-employed workers
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受薪工人和个体经营者的人力资本积累
DOI:
10.1016/s0927-5371(02)00134-3
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发表时间:
2003
期刊:
影响因子:
--
通讯作者:
Daiji Kawaguchi
中科院分区:
文献类型:
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作者:
Daiji Kawaguchi
This paper revisits the study of Lazear and Moore [Q. J. Econ. 99 (1984) 275], which found that empirical experience–earnings profiles were flatter for self-employed (SE) workers than salary/wage (SW) workers. This finding supports Lazear's contract theory, which argues that firms use life-cycle, backloaded payment systems to work around principal–agent problems between firms and workers. This paper reproduces the Lazear and Moore findings on more recent data and argues for an alternative interpretation. In particular, this paper argues that self-employed workers face more wage variation, but also enjoy a higher return for human capital than salary/wage workers. A model based on these assumptions produces flatter experience–earnings profiles, since self-employed workers start their careers with more human capital. Due to opportunity cost, they invest less in human capital on the job. This paper develops implications of the model not found in the Lazear contract theory and concludes by developing support for these implications.