Human Capital Life Cycle of Earnings Models: A Specific Solution and Estimation / Lee A. Lillard.

Format:

Book

Author/Creator:

Lillard, Lee A.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w0004.

NBER working paper series no. w0004

Language:

English

Subjects (All):

Human capital.

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Human Capital Life Cycle of Earnings Models

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1973.

Cambridge, Mass. : National Bureau of Economic Research, 1973.

Summary:

The purpose of this paper is to consider human capital models of earning behavior over an individual lifetime. A general class of life cycle models relating to individual earnings behavior is developed by considering alternative formulation of the basic Ben- Porath type model. An explicit solution to a specific formulation within this general class is considered in some detail. An empirical development of this explicit earnings function is estimated using data on a cohort of individuals surveyed at some point in their lifetime. The empirical estimates are discussed in detail. The estimated earnings function is then used to predict and individual's discounted present value of lifetime earnings.

Notes:

Print version record

July 1973.

Includes bibliographical references.