Measuring human capital in the labor market

The supply of experience in 8 OECD countries

Etienne Wasmer

    Research output: Contribution to journalArticle

    Abstract

    To investigate the evolution of the supply side of the labor market, I derive a methodology to measure an important component of the human capital level of the workforce, the experience of the labor market. Based on the perpetual inventory method, a stock of experience is estimated for eight OECD countries. It appears that, during the last three decades, the OECD labor markets have faced a decline in the supply of experience by the labor market participants, with a minimum in the early 1980s for most countries and a recovery in the 1990s. Some implications regarding relative wages, relative unemployment and schooling are discussed.

    Original languageEnglish (US)
    Pages (from-to)861-874
    Number of pages14
    JournalEuropean Economic Review
    Volume45
    Issue number4-6
    DOIs
    StatePublished - May 1 2001

    Fingerprint

    Labour market
    OECD countries
    Human capital
    Relative wages
    Supply side
    Workforce
    Unemployment
    Methodology
    Schooling
    Perpetual inventory method

    Keywords

    • Human capital
    • Perpetual inventory method

    ASJC Scopus subject areas

    • Finance
    • Economics and Econometrics

    Cite this

    Measuring human capital in the labor market : The supply of experience in 8 OECD countries. / Wasmer, Etienne.

    In: European Economic Review, Vol. 45, No. 4-6, 01.05.2001, p. 861-874.

    Research output: Contribution to journalArticle

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