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Earnings over the life cycle : the Mincer earnings function and its applications

Author: S W Polachek
Publisher: Boston : Now Publishers, ©2008.
Series: Foundations and trends in microeconomics, v. 4, no. 3.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
In 1958, Jacob Mincer pioneered an important approach to understand how earnings are distributed across the population. In the years since Mincer's seminal work, he as well as his students and colleagues extended the original human capital model, reaching important conclusions about a whole array of observations pertaining to human well-being. This line of research explained why education enhances earnings; why  Read more...
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Details

Genre/Form: Electronic books
Additional Physical Format: Print version:
Polachek, S.W.
Earnings over the life cycle.
Boston : Now Publishers, ©2008
Named Person: Jacob Mincer; Jacob Mincer
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: S W Polachek
ISBN: 9781601981233 1601981236
OCLC Number: 241291090
Description: 1 online resource (ix, 111 pages) : illustrations.
Contents: Abstract --
Introduction: why study earnings functions? --
The theoretical underpinnings: the Ben-Porath model life cycle model of human capital investment over the life cycle --
The Mincer earnings function --
Derivation of the Mincer earnings function --
Direct applications of the Mincer earnings function --
The rate of return to education --
Earnings function concavity --
Distribution of earnings over the life cycle: the overtaking year of experience --
Econometric issues regarding estimation of the Mincer earnings function --
Functional form specification --
Omitted and mis-measured variables --
Selectivity --
Unobserved heterogeneity --
Extending the human capital model --
School inputs and earnings: race, education, and black-white earnings differences --
Earnings of women --
Heterogeneous human capital, matching, and occupational distribution --
Incomplete information --
The power of the Mincer earnings function in explaining the earnings distribution --
Critiques of the human capital approach --
Conclusion --
References --
Updates.
Series Title: Foundations and trends in microeconomics, v. 4, no. 3.
Responsibility: Solomon W. Polachek.

Abstract:

Earnings over the Lifecycle: The Mincer Earnings Function and Its Applications focuses on the underlying economics behind the Mincer earnings function and its robustness and relevance to policy  Read more...

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