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Earnings over the life cycle 1 edition

Earnings over the life cycle
S. W. Polachek

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Earnings over the life cycle
the Mincer earnings function and its applications
Solomon W. Polachek

Published 2008 by Now Publishers in Boston .
Written in English.

About the Book

In 1958, Jacob Mincer pioneered an important approach to understand how earnings are distributed across the population. In the years since Mincer's seminal work, he as well as his students and colleagues extended the original human capital model, reaching important conclusions about a whole array of observations pertaining to human well-being. This line of research explained why education enhances earnings; why earnings rise at a diminishing rate throughout one's life; why earnings growth is smaller for those anticipating intermittent labor force participation; why males earn more than females; why whites earn more than blacks; why occupational distributions differ by gender; why geographic and job mobility predominate among the young; and why numerous other labor market phenomena occur. This review surveys the answers to these and other questions based on research emanating from Mincer's original earnings function specification.

Table of Contents

Introduction: why study earnings functions?
The theoretical underpinnings: the Ben-Porath model life cycle model of human capital investment over the life cycle
The Mincer earnings function
Derivation of the Mincer earnings function
Direct applications of the Mincer earnings function
The rate of return to education
Earnings function concavity
Distribution of earnings over the life cycle: the overtaking year of experience
Econometric issues regarding estimation of the Mincer earnings function
Functional form specification
Omitted and mis-measured variables
Unobserved heterogeneity
Extending the human capital model
School inputs and earnings: race, education, and black-white earnings differences
Earnings of women
Heterogeneous human capital, matching, and occupational distribution
Incomplete information
The power of the Mincer earnings function in explaining the earnings distribution
Critiques of the human capital approach

Edition Notes

Includes bibliographical references (p. 93-111).

Description based on print version record.

Foundations and trends in microeconomics -- vol. 4, issue 3, Foundations and trends in microeconomics -- v. 4, no. 3.


Dewey Decimal Class
Library of Congress
HD4904.7 .P65 2008eb

The Physical Object

[electronic resource] :
1 online resource (ix, 111 p.) :
Number of pages

ID Numbers

Open Library
Internet Archive
9781601981233, 9781601981226


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