Industry-Specific Human Capital: Evidence from Displaced Workers

Neal, Derek

doi:10.1086/298388

Cited by 837 publications

(702 citation statements)

References 21 publications

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“…On the other hand, Kletzer (1989) found further that the postdisplacement earnings level is positively related to pre-displacement tenure, suggesting that workers displaced from long jobs are more able on average than those displaced from shorter jobs. In more recent work, Neal (1995) using the DWS and Parent (1995) using the National Longitudinal Survey of Youth (NLSY) found that workers who find new employment in the same industry from which they were displaced earn more than do industry switchers. This work suggests that Kletzer's finding that post-displacement earnings are positively related to pre-displacement tenure may be a result of the transferability of industry-specific capital.…”

Section: Literature On Job Lossmentioning

confidence: 99%

Job Loss and the Decline in Job Security in the United States

Farber¹

2010

Labor in the New Economy

157

135

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Section: Literature On Job Lossmentioning

confidence: 99%

Job Loss and the Decline in Job Security in the United States

Farber¹

2010

Labor in the New Economy

157

135

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“…Many specific skills are likely to be industry-or occupation-specific and are thus irreversibly lost if the worker quits the industry or the occupation, but not if she switches from the one to the other firm. One would expect greater losses when switching between industries or occupations then when just changing jobs, as is reported by Neal (1995). We leave this extension for future research.…”

Section: Introductionmentioning

confidence: 69%

“…While we focus on firm tenure, our model could equally well be applied to industry or occupation tenure, as suggested by Neal (1995). Many specific skills are likely to be industry-or occupation-specific and are thus irreversibly lost if the worker quits the industry or the occupation, but not if she switches from the one to the other firm.…”

Section: Introductionmentioning

confidence: 99%

Tenure Profiles and Efficient Separation in a Stochastic Productivity Model

Buhai

Teulings

2006

SSRN Journal

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This paper provides a new way of analyzing tenure profiles in wages, by modelling simultaneously the evolution of wages and the distribution of tenures. We develop a theoretical model based on efficient bargaining, where both log outside wage and log wage in the current job follow a random walk, as found empirically. This setting allows the application of real option theory. We derive the efficient separation rule. The model fits the observed distribution of job tenures well. Since we observe outside wages only at job start and job separation, our empirical analysis of within job wage growth is based on expected wage growth conditional on the outside wages at both dates. Our modelling allows testing of the efficient bargaining hypothesis. The model is estimated on the PSID. JEL Code: C51, C52, J63.

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“…We assume that occupations represent skills. A growing number of studies argue whether occupation, industry, firm, and the task content of the job determine skills (e.g., Helwege, 1992;Neal, 1995;Kambourov and Manovskii, 2009a,b;Longhi and Brynin, 2010;Ritter, 2014;Cortes and Gallipoli, 2015). These studies seem to have settled on that occupations are a major determinant of skills.…”

Section: Introductionmentioning

confidence: 99%

On the Industry Specificity of Human Capital and Business Cycles

2016

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Abstract:We define specific (general) human capital as the set of occupations whose use is spread in a limited (wide) set of industries. Using the EU Labor Force Survey database, we identify these human capital types and analyze their employment and education. This exercise yields a persistent assignment of occupations into specific and general human capital types. The share of specific human capital varies across countries and has declined over time almost everywhere. We consider a stylized two-sector model where one of the sectors uses both types of human capital and the other specializes on general human capital. We show that a mean preserving increase in the share of specific human capital reduces (increases) the contribution of shocks in non-specialized sector and increases (reduces) the contribution of shocks in specialized sector to the variance of final output, when sectoral outputs are gross complements (substitutes).JEL Codes: E24,E30, I20, J23, J24, O41.

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Industry-Specific Human Capital: Evidence from Displaced Workers

Cited by 837 publications

References 21 publications

Job Loss and the Decline in Job Security in the United States

Job Loss and the Decline in Job Security in the United States

Tenure Profiles and Efficient Separation in a Stochastic Productivity Model

On the Industry Specificity of Human Capital and Business Cycles

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