| Title:
|
Equilibrium search model with endogenous growth rate of human capital (English) |
| Author:
|
Tang, Wansheng |
| Author:
|
Zhou, Chi |
| Author:
|
Xiao, Chaoqun |
| Author:
|
Zhao, Ruiqing |
| Language:
|
English |
| Journal:
|
Kybernetika |
| ISSN:
|
0023-5954 (print) |
| ISSN:
|
1805-949X (online) |
| Volume:
|
52 |
| Issue:
|
6 |
| Year:
|
2016 |
| Pages:
|
866-897 |
| Summary lang:
|
English |
| . |
| Category:
|
math |
| . |
| Summary:
|
This article studies an equilibrium search problem when jobs provided by firms can be either unskilled or skilled and when workers differing in their education level can be either low-educated or high-educated. The structure proportion of jobs affects the equilibrium which indicates a threshold that can distinguish whether the equilibrium is separating or cross-skill. In addition, the cross-skill equilibrium solution implies the high-educated workers are more likely to obtain higher pay rates than the low-educated workers with same tenure. Moreover, the profits of the firms decrease as the number of the low-educated workers increases. The most interesting conclusion is that the growth rate of the human capital is an endogenous variable which is different from previous work. (English) |
| Keyword:
|
dynamic programming |
| Keyword:
|
contracts |
| Keyword:
|
job search |
| Keyword:
|
market equilibrium |
| Keyword:
|
human capital |
| MSC:
|
49L20 |
| MSC:
|
90C39 |
| MSC:
|
91B40 |
| MSC:
|
97M40 |
| idZBL:
|
Zbl 06707378 |
| idMR:
|
MR3607852 |
| DOI:
|
10.14736/kyb-2016-6-0866 |
| . |
| Date available:
|
2017-02-13T11:41:38Z |
| Last updated:
|
2018-01-10 |
| Stable URL:
|
http://hdl.handle.net/10338.dmlcz/145995 |
| . |
| Reference:
|
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