Specificity of Human Capital and Promotions
Eva M. Meyersson Milgrom
Stanford Institute for Economic Policy Research (SIEPR); Stanford University - Department of Sociology
Seoul National University
January 27, 2010
This paper analyzes firms’ hiring and promotion patterns in each job rank within firms, and infers the relative significance of firm- and occupation-specific human capital. The results suggest that firm- and occupation-specific skills are equally valuable for tasks in each job rank, and that the significance of each increases with job rank, but that there exists a large amount of heterogeneity across occupations. This paper also shows that the lengths of firm- and occupation-tenure are very noisy measures of firm- and occupation-specific human capital, and contrasts our results with those from other recent studies on the returns of firm- and occupation-tenure.
Number of Pages in PDF File: 49
Keywords: Specific Human Capital, Promotion, Hiring
JEL Classification: M51, J62working papers series
Date posted: February 1, 2010
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