Age and Earnings in the Labour Market: Implications of the 1980s Labour Bulge

Arthur WB (1983). Age and Earnings in the Labour Market: Implications of the 1980s Labour Bulge. In: Human Resources, Employment and Development Volume 2: Concepts, Measurement and Long-Run Perspective. International Economic Association Series . pp. 405-419 UK: Palgrave Macmillan. ISBN 978-1-349-17203-0 DOI:10.1007/978-1-349-17203-0_21.

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Abstract

Current theories offer conflicting guidance on how demographic changes in the labour force affect earnings and advancement over the working career. Human capital theory, as reflected in Welch (1978) for example, would predict that larger age cohorts than normal would earn less throughout their careers.1 If, as human-capital theory assumes, earnings are based on productivity, then the increased competition for complementary inputs must lower productivity and hence salaries. Members of larger labour cohorts will therefore have lower age-earnings profiles.

Item Type: Book Section
Research Programs: System and Decision Sciences - Core (SDS)
Depositing User: Romeo Molina
Date Deposited: 07 Dec 2016 14:34
Last Modified: 07 Dec 2016 14:34
URI: http://pure.iiasa.ac.at/14106

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