Kyle Herkenhoff, Jeremy Lise, Guido Menzio, Gordon M. Phillips
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引用次数: 0
Abstract
To what extent is a worker's human capital growth affected by the quality of his coworkers? To answer this question, we develop and estimate a model in which the productivity and the human capital growth of an individual depend on the average human capital of his coworkers. The measured production function is supermodular: The marginal product of a more knowledgeable individual is increasing in the human capital of his coworkers. The measured human capital accumulation function is convex: An individual's human capital growth is increasing in coworkers' human capital only when paired with more knowledgeable coworkers, but independent of coworkers' human capital when paired with less knowledgeable coworkers. Learning from coworkers accounts for two thirds of the stock of human capital accumulated on the job. Technological changes that increase production supermodularity lead to labor market segregation and, by reducing the opportunities for low human capital workers to learn from better coworkers, lead to a decline in aggregate human capital and output.
期刊介绍：
Econometrica publishes original articles in all branches of economics - theoretical and empirical, abstract and applied, providing wide-ranging coverage across the subject area. It promotes studies that aim at the unification of the theoretical-quantitative and the empirical-quantitative approach to economic problems and that are penetrated by constructive and rigorous thinking. It explores a unique range of topics each year - from the frontier of theoretical developments in many new and important areas, to research on current and applied economic problems, to methodologically innovative, theoretical and applied studies in econometrics.
Econometrica maintains a long tradition that submitted articles are refereed carefully and that detailed and thoughtful referee reports are provided to the author as an aid to scientific research, thus ensuring the high calibre of papers found in Econometrica. An international board of editors, together with the referees it has selected, has succeeded in substantially reducing editorial turnaround time, thereby encouraging submissions of the highest quality.
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