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2011•International Economic ReviewRequires access

HUMAN CAPITAL ACCUMULATION AND LABOR MARKET EQUILIBRIUM*

Kenneth Burdett, Carlos Carrillo‐Tudela, Melvyn Coles

Open publisher page 85 citations

Abstract

We analyze an equilibrium labor market with on-the-job search and experience effects (as workers learn by doing). The analysis yields a Mincer wage equation with worker fixed effects and endogenously determined firm fixed effects. Equilibrium sorting—where over time more experienced workers also tend to move to better paid employment—has a significant impact on wage inequality.

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What this paper is about

We analyze an equilibrium labor market with on-the-job search and experience effects (as workers learn by doing). The analysis yields a Mincer wage equation with worker fixed effects and endogenously determined firm fixed effects. Equilibrium sorting—where over time more experienced workers also tend to move to better paid employment—has a significant impact on wage inequality.

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OpenAlex reports 85 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

We analyze an equilibrium labor market with on-the-job search and experience effects (as workers learn by doing). The analysis yields a Mincer wage equation with worker fixed effects and endogenously determined firm fixed effects. Equilibrium sorting—where over time more experienced workers also tend to move to better paid employment—has a significant impact on wage inequality.

Key concepts: Economics, Labour economics, Sorting, Human capital, Wage inequality, Wage, Inequality, Microeconomics

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