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030 Department Bulletin Papers = 本学紀要論文
*Hitotsubashi journal of economics
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Identifier to cite or link to this item: https://doi.org/10.15057/18778
Identifier to cite or link to this item: https://hdl.handle.net/10086/18778
Link to primary information
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cover_18778
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Item Information
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Title
Initial Wage, Human Capital and Post Wage Differentials
Creator
Creator Name
Li, Gan
Li, Gan
Affiliation
Affiliation Name
Texas A&M University
Creator Name
Jaeun, Shin
Jaeun, Shin
Affiliation
Affiliation Name
KDI School of Public Policy and Management
Creator Name
Qi, Li
Qi, Li
Affiliation
Affiliation Name
Texas A&M University
Key Word
Human Capital Accumulation
Learning
Initial Wage
Wage Differentials
JEL
J24
J31
C14
Abstract
Insufficiency in information with which firms judge the productivity of a worker for the first time in the market creates more randomness in initial wages than in later wages. This paper examines whether the initial randomness in wages may have a persistent effecton post wages. We set up a human capital accumulation in which an individual may respond to the positive error in initial wage by adjusting hours worked thereafter in her career, and consequently may receive higher future wages than those who draw a negative error in initial wages but otherwise are equivalent. The model predicts that the initial wage, in particular, its random component, is a persistently important factor having positive effecton future wages. Using data from the National Longitudinal Survey of Youth 79, we find empirical evidence that this effect is indeed positive and persists even after 20 years since the initial entry to labor market. The decomposition of initial wages by both parametric and nonparametric IV methods further shows that this effectis derived by the random component, nott he observable component, of the initial wage. It implies that the observed cross-sectional wage variation within group can be accounted for the initial randomness in wages.
Publisher
Hitotsubashi University
Issued Date
2010-12
Language
English(eng)
Resource Type
departmental bulletin paper
Version Type
VoR
selfDOI
10.15057/18778
ISSN
0018-280x
NCID
AA00207547
Source Title
Hitotsubashi Journal of Economics
Volume Number
51
Issue Number
2
Page Start
23
Page End
42
Appears in Collections
Vol. 51, no. 2 (Dec. 2010)
URL
https://hdl.handle.net/10086/18778
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