Search results for " Capital"
showing 10 items of 1008 documents
Business owners, employees, and firm performance
2018
The novel Finnish Longitudinal OWNer-Employer-Employee (FLOWN) database was used to analyze how the characteristics of owners and employees relate to firm performance as determined by labor productivity, survival, and employment growth. Focusing on the role of the employment history, the results show that previous experience in a high-productivity firm strongly predicts high productivity and probability of survival for the entrepreneur’s new firm. This can be interpreted as evidence of knowledge spillovers through labor mobility of both the owners and the employees. The results also show that the owner’s high education in a technical field is positively related to firm performance. Differen…
Changing returns to education in Spain during the 1980s
1998
We present evidence on returns to education for Spanish employees during the 1980s, a period of remarkable structural transformations. The results show a declining payoff to education between 1981 and 1991 for lower and intermediate educational levels, whereas higher education does not show a reduction in its return. At the same time, earnings inequality by gender declined noticeably as educational attainment expanded. [JEL I21, J31]
Wage gaps between the public and private sectors in Spain
1998
Based on data from the last household survey conducted by the Instituto Nacional de Estatistica in 1990-91, we estimate separate earnings equations by sector of employment and gender, treating the choice of employment sector as endogenous. From these results we compare the wage-generating process for each subgroup and identify the returns to human capital of males and females working in the public and private sectors. We then decompose overall wage gaps by sector for each gender in order to measure the contribution of education and other personal characteristics to public-private wage differentials and to evaluate the economic surplus that public sector workers receive compared to their pri…
Human capital and income inequality revisited
2021
This paper revisits the relationship between human capital and income inequality, using an updated data set on human capital inequality and a novel database on earnings inequality. We find an inver...
Youth Transition from School to Work in Spain
2001
Using a data set drawn from the Encuesta Socio-Demográfica conducted by the Instituto Nacional de Estadística in 1991, we analyze the labor market entrance of Spanish school leavers and the match between education and work at the early stages of working life. The empirical evidence shows that human capital exerts a strong influence on the duration of unemployment. With regard to the job match between education and work we find that young workers are more likely to be underutilized compared to their adult co-workers. Regression results indicate that people with higher education have, all else being equal, a lower probability of being overeducated and a shorter lenght of unemployment. They al…
Human capital in OECD countries: Technical change, efficiency and productivity
2003
The aim of this paper is to analyse the role of human capital in the productivity gains of the OECD countries in the period 1965-90, breaking down the productivity gains into technical change and gains in efficiency. For this purpose we use both a stochastic frontier approach and a non-parametric approach (DEA) and calculate Malmquist indices of productivity. The results obtained indicate the existence of both a level effect (a higher level of human capital raises labour productivity) and a rate effect (a higher level of human capital affects positively the rate of technical change) associated with human capital. The differences among countries in endowments of human capital have worked aga…
Human Capital Inequality, Life Expectancy and Economic Growth
2006
This article presents a model in which inequality affects per capita income when individuals decide to invest in education taking into account their life expectancy, which depends to a large extent on the human capital of their parents. Our results show the existence of multiple steady states depending on the initial distribution of education. The low steady state is a poverty trap in which children raised in poor families have low life expectancy and work as non-educated workers. The empirical evidence suggests that the life expectancy mechanism explains a major part of the relationship between inequality and human capital accumulation. Increases in life expectancy and human capital accumu…
RENT CREATION AND RENT SHARING: NEW MEASURES AND IMPACTS ON TOTAL FACTOR PRODUCTIVITY
2019
International audience; This analysis proposes new measures of rent creation and rent sharing and assesses their impact on productivity on cross-country-industry panel data. We find first that: (1) anticompetitive product market regulations positively affect rent creation and (2) employment protection legislation boosts hourly wages, particularly for low-skill workers. However, we find no significant impact of this employment legislation on rent sharing, as the hourly wage increases are offset by a negative impact on hours worked. Second, using regulation indicators as instruments, we find that rent creation and rent sharing both have a substantial negative impact on total factor productivi…
Do Scarring Effects of Low-Wage Employment and Non-Employment Differ BETWEEN Levels of Qualification?
2014
This study investigates how the effects of low-wage employment and non-employment on wage prospects vary depending on qualification. Based on theories on signalling effects, human capital and job search, we discuss why there may be heterogeneity in state dependence in both labour market states. We find that episodes of low-wage employment incur a significantly lower risk of future non-employment than episodes of non-employment for low-qualified workers. In contrast, for workers with a middle or high level of qualification the risk of non-employment is not significantly different when being low-paid instead of not employed.
The evolution of returns to education in Spain 1980-1991
1998
STT Working Paper, n°01-99 (Université d'Orléans), janvier 1999; Based on data from the 1980 and 1990 Household Surveys, we analyze educational expansion in Spain and estimate earnings equations for male family heads ; then rates of return to education in both years are compared. Furthermore we decompose the over-all average earnings differential over time to verify to what extent the magnitude of changes is due to variations in the characteristics of the working population during the 1980-1991 period, and how much of that differential is explained by differences in the pay structure.