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Multidimensional Skills, Sorting, and Human Capital Accumulation

Postel-Vinay, F; Lise, J; (2020) Multidimensional Skills, Sorting, and Human Capital Accumulation. The American Economic Review , 110 (8) pp. 2328-2376. 10.1257/aer.20162002. Green open access

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Abstract

We construct a structural model of on-the-job search in which workers differ in skills along several dimensions and sort themselves into jobs with heterogeneous skill requirements along those same dimensions. Skills are accumulated when used, and depreciate when not used. We estimate the model combining data from O*NET with the NLSY79. We use the model to shed light on the origins and costs of mismatch along heterogeneous skill dimensions. We highlight the deficiencies of relying on a unidimensional model of skill when decomposing the sources of variation in the value of lifetime output between initial conditions and career shocks.

Type: Article
Title: Multidimensional Skills, Sorting, and Human Capital Accumulation
Open access status: An open access version is available from UCL Discovery
DOI: 10.1257/aer.20162002
Publisher version: http://doi.org/10.1257/aer.20162002
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/10090578
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