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Measuring human capital in the labor market: The supply of experience in 8 OECD countries

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.
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Submitted on : Friday, February 25, 2022 - 9:33:54 AM
Last modification on : Tuesday, September 13, 2022 - 11:12:42 AM

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  • HAL Id : hal-03588636, version 1
  • SCIENCESPO : 2441/8986

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Etienne Wasmer. Measuring human capital in the labor market: The supply of experience in 8 OECD countries. European Economic Review, Elsevier, 2001, 45 (4-6), pp.861 - 874. ⟨hal-03588636⟩

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