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The Price of Experience
Cited 18 time in
Web of Science
Cited 20 time in Scopus
- Authors
- Issue Date
- 2015-02
- Publisher
- American Economic Association
- Citation
- American Economic Review, Vol.105 No.2, pp.784-815
- Abstract
- We identify a key role of factor supply, driven by demographic changes, in shaping several empirical regularities that are a focus of active research in macro and labor economics. In particular, demographic changes alone can account for the large movements of the return to experience over the last four decades, for the differential dynamics of the age premium across education groups emphasized by Katz and Murphy (1992), for the differential dynamics of the college premium across age groups emphasized by Card and Lemieux (2001), and for the changes in cross-sectional and cohort-based life-cycle profiles emphasized by Kambourov and Manovskii (2005).
- ISSN
- 0002-8282
- Language
- English
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