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The Labor Market Returns To Unobserved Skills
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Book Synopsis The Labor Market Returns to Unobserved Skills by : Safoura Moeeni
Download or read book The Labor Market Returns to Unobserved Skills written by Safoura Moeeni and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate the effects of unobserved skills on labor market outcomes by investigating a change in the distribution of unobserved skills. Among people with the same levels of observed skills such as education and work experience, there are still disparities in labor market outcomes. since employers cannot observe all applicantsâ skills and productivity, they rely on the average skills of different groups. We exploit a discontinuity generated by the 2012 education policy in Iran. This policy restricting female students in specific college majors changes the size and skill distribution of high school graduates. We find three main findings. First, the education quota lowers women's college attendance. Second, young high-school graduate women are more likely to participate in the labor market and have a job. Third, the gender wage gap decreases among high-school workers due to both within and between occupation changes: treated women are paid more and they take up higher-paying middle-skilled positions that used to be non-traditional occupations for them.
Book Synopsis Wage Dynamics and Returns to Unobserved Skill by : Lance Lochner
Download or read book Wage Dynamics and Returns to Unobserved Skill written by Lance Lochner and published by . This book was released on 2018 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists disagree about the factors driving the substantial increase in residual wage inequality in the U.S. over the past few decades. We identify and estimate a general model of log wage residuals that incorporates: (i) changing returns to unobserved skills, (ii) a changing distribution of unobserved skills, and (iii) changing volatility in wages due to factors unrelated to skills. Using data from the PSID, we estimate that the returns to unobserved skills have declined by as much as 50% since the mid-1980s despite a sizable increase in residual inequality. Instead, the variance of skills rose over this period due to increasing variability in life cycle skill growth. Finally, we develop an assignment model of the labor market and show that both demand and supply factors contributed to the downward trend in the returns to skills over time, with demand factors dominating for non-college-educated men.
Book Synopsis Connecting the Unobserved Dots by : Gabriel Demombynes
Download or read book Connecting the Unobserved Dots written by Gabriel Demombynes and published by World Bank Publications. This book was released on 2008 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: There are several possible explanations for the observed changes in inequality, the returns to education, and the gap between the wages of informal and formal salaried workers in Argentina over the period 1980-2002. Largely due to the lack of evidence for competing explanations, skill-biased technical change is the most likely explanation for the increases in the returns to education that occurred in the 1990s. Using a semi-parametric re-weighting variance decomposition technique and data from the Permanent Household Survey, the authors show that during the same period there was an increase in the returns to unobserved skill. This finding lends support to the hypothesis that skill-biased technical change has been a main driver of increases in inequality in Argentina. The pattern of changes suggests that the growth in returns to unobserved skill may have been partly responsible for the relative deterioration of informal salaried wages during the 1990s.
Book Synopsis Unobserved Ability, Comparative Advantage, and the Rising Return to Education in the United States by : Olivier Deschênes
Download or read book Unobserved Ability, Comparative Advantage, and the Rising Return to Education in the United States written by Olivier Deschênes and published by . This book was released on 2001 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Skill Mismatch in Labor Markets by : Solomon W. Polachek
Download or read book Skill Mismatch in Labor Markets written by Solomon W. Polachek and published by Emerald Group Publishing. This book was released on 2017-05-15 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume contains original research articles which analyze the linkages between education and skills and the causes and consequences of different types of skill mismatch. The volume yields new insights regarding overeducation, underskilling, graduate jobs, wages returns to skills, aggregate productivity, job complexity and skill development.
Book Synopsis The Right Skills for the Job? by : Rita Almeida
Download or read book The Right Skills for the Job? written by Rita Almeida and published by World Bank Publications. This book was released on 2012-07-13 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book revisits skills development policies and points to new directions for making training programs more effective and responsive in increasingly competitive labor market.
Book Synopsis Transitions through the Labor Market by : Solomon W. Polachek
Download or read book Transitions through the Labor Market written by Solomon W. Polachek and published by Emerald Group Publishing. This book was released on 2018-08-09 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume contains seven original and innovative articles which analyze labor market transitions, how individuals progress from school to work, choose a particular occupation, move up the job ladder, and finally withdraw from the workforce to retirement. Investigations are done by race and gender; and social implications are examined.
Book Synopsis The Labor Dynamics of Skill Biased Technical Change by : Matthew B. Ross
Download or read book The Labor Dynamics of Skill Biased Technical Change written by Matthew B. Ross and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This analysis explores the labor market dynamic of skill biased technical change through three distinct but closely related analyses. The first two chapters, develop a novel methodology for constructing a panel of occupational task content that consists of incumbent-updated survey data from O*NET. In the first chapter, I exploit variation in task content within an occupations over time to explore the impact of changing job requirements (driven by technology) on the wages of incumbent workers. In the second chapter, I utilize this same source of variation to estimate the likelihood that an incumbent worker transitions to non-employment or across employment states. In the third chapter, I use residual wage estimates from panel data to examine the relationship between human capital, unobserved skills, and job displacement. Motivated by recent literature on systematic displacement, we apply an empirical approach that utilizes variation in the residual from a hedonic wage model to examine differences in the distribution of unobserved skill between displaced and continuously employed workers. Each of these three chapters makes a significant contribution to the existing empirical literature on Skill Biased Technical Change and job displacement in terms of both methodology and findings.
Book Synopsis Reskilling the Workforce in the Labor Market: The Country Cases by : Meçik, Oytun
Download or read book Reskilling the Workforce in the Labor Market: The Country Cases written by Meçik, Oytun and published by IGI Global. This book was released on 2024-03-05 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the dynamic model of today's workforce, marked by technological upheavals, changing consumer preferences, and global economic shifts, a pressing challenge looms large – the imperative for continuous adaptation through reskilling. As the demand for specialized skills intensifies with technological advancements and the nature of work undergoes profound transformations, individuals, employers, and societies grapple with the need to stay competitive. The book Reskilling the Workforce in the Labor Market: The Country Cases emerges as a beacon of solutions in this complex terrain, addressing the critical facets of reskilling that are pivotal for thriving in the future job market. The workforce is confronted with multifaceted challenges, ranging from the disruptive impact of automation to the complexity of evolving job roles in a service-oriented economy. Individuals face the risk of being left behind if they do not acquire the necessary skills and education, while employers contend with productivity gaps and high turnover due to a mismatch between job demands and employee capabilities. Moreover, societal issues such as skill gaps and rising unemployment call for a concerted effort to establish a culture of lifelong learning. The high cost and limited availability of training programs, along with time constraints and resistance to change, further compound the challenges individuals and organizations face in navigating this reskilling imperative.
Book Synopsis Comparative Advantage, Learning, and Sectoral Wage Determination by : Robert Gibbons
Download or read book Comparative Advantage, Learning, and Sectoral Wage Determination written by Robert Gibbons and published by CIRANO. This book was released on 2002 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a model in which a worker's skills determine the worker's current wage and sector. Both the market and the worker are initially uncertain about some of the worker's skills. Endogenous wage changes and sector mobility occur as labor-market participants learn about these unobserved skills. We show how the model can be estimated using non-linear instrumental-variables techniques. We then apply our methodology to study the wages and allocation of workers across occupations and across industries. For both occupations and industries, we find that high-wage sectors employ high-skill workers and offer high returns to workers' skills. Estimates of these sectoral wage differences that do not account for sector-specific returns are therefore misleading. We also suggest further applications of our theory and methodology.
Book Synopsis Social Returns to Education by : Mr.A. Dalmazzo
Download or read book Social Returns to Education written by Mr.A. Dalmazzo and published by International Monetary Fund. This book was released on 2003-08-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper provides a quantitative assessment of social returns to education in Italy. It shows that, after controlling for individual characteristics, local average human capital is positively correlated with individual wages, with estimated social returns between 2 and 3 percent. This result is robust to alternative estimation methods and does not seem to depend on endogenous sorting. The paper also shows that social returns are higher in the lagged areas of the south of Italy.
Book Synopsis Handbook of Labor Economics by : Orley Ashenfelter
Download or read book Handbook of Labor Economics written by Orley Ashenfelter and published by Elsevier. This book was released on 1999-11-18 with total page 800 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to the continually evolving field of labour economics.
Book Synopsis The Growing Importance of Social Skills in the Labor Market by : David J. Deming
Download or read book The Growing Importance of Social Skills in the Labor Market written by David J. Deming and published by . This book was released on 2015 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The slow growth of high-paying jobs in the U.S. since 2000 and rapid advances in computer technology have sparked fears that human labor will eventually be rendered obsolete. Yet while computers perform cognitive tasks of rapidly increasing complexity, simple human interaction has proven difficult to automate. In this paper, I show that the labor market increasingly rewards social skills. Since 1980, jobs with high social skill requirements have experienced greater relative growth throughout the wage distribution. Moreover, employment and wage growth has been strongest in jobs that require high levels of both cognitive skill and social skill. To understand these patterns, I develop a model of team production where workers "trade tasks" to exploit their comparative advantage. In the model, social skills reduce coordination costs, allowing workers to specialize and trade more efficiently. The model generates predictions about sorting and the relative returns to skill across occupations, which I test and confirm using data from the NLSY79. The female advantage in social skills may have played some role in the narrowing of gender gaps in labor market outcomes since 1980.
Book Synopsis Estimating the Returns to Education by : Harry Anthony Patrinos
Download or read book Estimating the Returns to Education written by Harry Anthony Patrinos and published by World Bank Publications. This book was released on 2006 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Typically estimates of the benefits of education investments show average private rates of return for the average individual. The average may not be useful for policy. An examination of the distribution of the returns across individuals is needed. The few studies that have examined these patterns focus on high-income countries, showing investments to be more profitable at the top of the income distribution. The implication is that investments may increase inequality. Extending the analysis to 16 East Asian and Latin American countries the authors observe mixed evidence in middle-income countries and decreasing returns in low-income countries. Such differences between countries could be due to more job mobility in industrial countries, scarcity of skills, or differential exposure to market forces.
Book Synopsis The Growing Importance of Social Skills in the Labor Market by : David J. Deming
Download or read book The Growing Importance of Social Skills in the Labor Market written by David J. Deming and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The labor market increasingly rewards social skills. Between 1980 and 2012, jobs requiring high levels of social interaction grew by nearly 12 percentage points as a share of the U.S. labor force. Math-intensive but less social jobs - including many STEM occupations - shrank by 3.3 percentage points over the same period. Employment and wage growth was particularly strong for jobs requiring high levels of both math skill and social skill. To understand these patterns, I develop a model of team production where workers "trade tasks" to exploit their comparative advantage. In the model, social skills reduce coordination costs, allowing workers to specialize and work together more efficiently. The model generates predictions about sorting and the relative returns to skill across occupations, which I investigate using data from the NLSY79 and the NLSY97. Using a comparable set of skill measures and covariates across survey waves, I find that the labor market return to social skills was much greater in the 2000s than in the mid 1980s and 1990s.
Book Synopsis Unobserved Ability and the Return to Schooling by : Christian Belzil
Download or read book Unobserved Ability and the Return to Schooling written by Christian Belzil and published by CIRANO. This book was released on 2002 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :William A. Darity, Jr. Publisher :Springer Science & Business Media ISBN 13 :940112938X Total Pages :307 pages Book Rating :4.4/5 (11 download)
Book Synopsis Labor Economics: Problems in Analyzing Labor Markets by : William A. Darity, Jr.
Download or read book Labor Economics: Problems in Analyzing Labor Markets written by William A. Darity, Jr. and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: William Darity, Jr. In 1984 the Kluwer series in Modern Economic Thought, under the editorial direction of Warren Samuels, brought out a book under my editorship entitled Labor Economics: Modern Views. It consisted of a series of essays and commentaries that sought, in a critical fashion, to assess the state of the art in the field of labor economics with respect to several themes. These included methodology versus practice, the analysis of discrimination by gender and race, the phenomenon of persistent racial differences in un employment exposure, occupational safety and health regulation, dual versus segmented labor markets, and the remnants of the Phillips curve trade-off between unemployment and inflation. Nearly a decade later I was approached by Warren Samuels and Kluwer about editing a new book that would again address where things stand in labor economics. In proceeding with the development of this current book I was a struck by the extent to which the research thrust that was apparent in the early 1980s remains intact as we move toward the 21st century. The vast majority of scholarship in the labor subfield is dominated by the methodological orientation of applied neoclassical microeconomics, supplemented by incursions from the themes that occupy the so-called "pure theorists," particularly of the game theoretic variety.
