TY  - BOOK
AU  - Engbom,Niklas
ED  - National Bureau of Economic Research.
TI  - Labor Market Fluidity and Human Capital Accumulation
T2  - NBER working paper series
PY  - 2022///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - January 2022; Hardcopy version available to institutional subscribers
N2  - Using panel data from 23 OECD countries, I document that wages grow more over the life-cycle in countries where job-to-job mobility is more common. A life-cycle theory of job shopping and accumulation of skills on the job highlights that a more fluid labor market allows workers to faster relocate to jobs where they can better use their skills, incentivizing accumulation of skills. Lower labor market fluidity reduces life-cycle wage growth by 20 percent and aggregate labor productivity by nine percent across the OECD relative to the US. I derive a set of testable predictions for training and confront them with comparable cross-country training data, finding support for the theory
UR  - https://www.nber.org/papers/w29698
UR  - http://dx.doi.org/10.3386/w29698
ER  -