Measuring human capital in the labor market: The supply of experience in 8 OECD countries

Research output: Contribution to journalArticlepeer-review

Abstract

To investigate the evolution of the supply side of the labor market, I derive a methodology to measure an important component of the human capital level of the workforce, the experience of the labor market. Based on the perpetual inventory method, a stock of experience is estimated for eight OECD countries. It appears that, during the last three decades, the OECD labor markets have faced a decline in the supply of experience by the labor market participants, with a minimum in the early 1980s for most countries and a recovery in the 1990s. Some implications regarding relative wages, relative unemployment and schooling are discussed.

Original languageEnglish (US)
Pages (from-to)861-874
Number of pages14
JournalEuropean Economic Review
Volume45
Issue number4-6
DOIs
StatePublished - May 2001

Keywords

  • Human capital
  • Perpetual inventory method

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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