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Accession Number PB2014-103299
Title Occupational Choice and the Effects of Skill Supply on Relative Wages.
Publication Date May 2013
Media Count 27p
Personal Author G. Kurtzon
Abstract It is shown that an economy where agents with one dimensional skill choose among occupations as intermediate complementary inputs with dierent learning costs has an equilibrium hierarchy from the lowest cost/skill/wage occupations to the highest which agents will cascade along away from the skill level of new entrants. This can explain why dierently/similarly skilled agents act like comple- ments/substitutes. The distinction between lifetime wages including the learning cost and current wages implies a more elastic eect of immigration, but a more inelastic eect of the minimum wage. These conclusions don.t rely on the typical assumptions of scale, preferences, or comparative advantage.
Keywords Economics

Source Agency Bureau of Labor Statistics
NTIS Subject Category 70D - Personnel Management, Labor Relations & Manpower Studies
92A - Job Training & Career Development
96 - Business & Economics
Corporate Author Bureau of Labor Statistics, Washington, DC. Office of Prices and Living Conditions.
Document Type Technical report
Title Note Working paper no. 460.
NTIS Issue Number 1409
Contract Number N/A

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