Access

You are not currently logged in.

Access your personal account or get JSTOR access through your library or other institution:

login

Log in to your personal account or through your institution.

If You Use a Screen Reader

This content is available through Read Online (Free) program, which relies on page scans. Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.

Empirical Age-Earnings Profiles

Kevin M. Murphy and Finis Welch
Journal of Labor Economics
Vol. 8, No. 2 (Apr., 1990), pp. 202-229
Stable URL: http://www.jstor.org/stable/2535096
Page Count: 28
  • Read Online (Free)
  • Download ($14.00)
  • Subscribe ($19.50)
  • Cite this Item
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Empirical Age-Earnings Profiles
Preview not available

Abstract

The "human capital earnings function," in which earnings are expressed as a quadratic in potential experience, is probably the most widely accepted empirical specification in economics. In spite of its widespread acceptance, the human capital earnings function provides a very poor approximation of the true empirical relationship between earnings and experience. The standard formulation understates early career earnings growth by about 30%-50% and overstates midcareer growth by 20%-50%. However, simple alternative specifications that fit the data are available.

Page Thumbnails

  • Thumbnail: Page 
202
    202
  • Thumbnail: Page 
203
    203
  • Thumbnail: Page 
204
    204
  • Thumbnail: Page 
205
    205
  • Thumbnail: Page 
206
    206
  • Thumbnail: Page 
207
    207
  • Thumbnail: Page 
208
    208
  • Thumbnail: Page 
[209]
    [209]
  • Thumbnail: Page 
210
    210
  • Thumbnail: Page 
211
    211
  • Thumbnail: Page 
212
    212
  • Thumbnail: Page 
213
    213
  • Thumbnail: Page 
[214]
    [214]
  • Thumbnail: Page 
215
    215
  • Thumbnail: Page 
216
    216
  • Thumbnail: Page 
217
    217
  • Thumbnail: Page 
[218]
    [218]
  • Thumbnail: Page 
219
    219
  • Thumbnail: Page 
220
    220
  • Thumbnail: Page 
221
    221
  • Thumbnail: Page 
222
    222
  • Thumbnail: Page 
223
    223
  • Thumbnail: Page 
224
    224
  • Thumbnail: Page 
225
    225
  • Thumbnail: Page 
[226]
    [226]
  • Thumbnail: Page 
227
    227
  • Thumbnail: Page 
228
    228
  • Thumbnail: Page 
229
    229