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Article: Uncertainty in Labor Productivity and Specific Human Capital Investment

TitleUncertainty in Labor Productivity and Specific Human Capital Investment
Authors
KeywordsBusiness and economics
Labor and industrial relations
Issue Date2003
PublisherUniversity of Chicago Press. The Journal's web site is located at http://www.journals.uchicago.edu/JOLE
Citation
Journal of Labor Economics, 2003, v. 21 n. 3, p. 651-675 How to Cite?
AbstractUncertainty in labor productivity (ULP) is affected by many factors, such as worker-employer matching, technology, and macroeconomic conditions. Not surprisingly, ULP varies across forms, industries, and economies. how do variations in ULP affect specific human capital (SHC) investment, wage, and labor turnover? A fixed-wage model is used to show that the answer depends critically on the initial level of ULP. The model is also used to show that wage and SHC are always positively correlated, but SHC investment and labor turnover do not have a monotonic relationship. The results have implications for empirical studies and public policies affecting ULP.
Persistent Identifierhttp://hdl.handle.net/10722/42524
ISSN
2015 Impact Factor: 3.214
2015 SCImago Journal Rankings: 5.631
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorBai, CEen_HK
dc.contributor.authorWang, Yen_HK
dc.date.accessioned2007-01-29T08:52:07Z-
dc.date.available2007-01-29T08:52:07Z-
dc.date.issued2003en_HK
dc.identifier.citationJournal of Labor Economics, 2003, v. 21 n. 3, p. 651-675en_HK
dc.identifier.issn0734-306Xen_HK
dc.identifier.urihttp://hdl.handle.net/10722/42524-
dc.description.abstractUncertainty in labor productivity (ULP) is affected by many factors, such as worker-employer matching, technology, and macroeconomic conditions. Not surprisingly, ULP varies across forms, industries, and economies. how do variations in ULP affect specific human capital (SHC) investment, wage, and labor turnover? A fixed-wage model is used to show that the answer depends critically on the initial level of ULP. The model is also used to show that wage and SHC are always positively correlated, but SHC investment and labor turnover do not have a monotonic relationship. The results have implications for empirical studies and public policies affecting ULP.en_HK
dc.format.extent3311471 bytes-
dc.format.extent25088 bytes-
dc.format.mimetypeapplication/pdf-
dc.format.mimetypeapplication/msword-
dc.languageengen_HK
dc.publisherUniversity of Chicago Press. The Journal's web site is located at http://www.journals.uchicago.edu/JOLEen_HK
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.rightsJournal of Labor Economics. Copyright © University of Chicago Press.en_HK
dc.subjectBusiness and economicsen_HK
dc.subjectLabor and industrial relationsen_HK
dc.titleUncertainty in Labor Productivity and Specific Human Capital Investmenten_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0734-306X&volume=21&issue=3&spage=651&epage=675&date=2003&atitle=Uncertainty+in+Labor+Productivity+and+Specific+Human+Capital+Investmenten_HK
dc.description.naturepublished_or_final_versionen_HK
dc.identifier.doi10.1086/374962-
dc.identifier.scopuseid_2-s2.0-0344629694-
dc.identifier.hkuros91940-
dc.identifier.isiWOS:000185185200006-

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