Lebenseinkommen – Entwicklung des Einkommens im Lebensverlauf
Das im Verlauf des Erwerbslebens erzielbare Einkommen ist oft ein Entscheidungskriterium bei der Frage "Studium oder Berufsausbildung". Lohnt sich ein Studium oder kann mit einer Berufsausbildung langfristig ein höheres Einkommen erzielt werden? Wie entwickelt sich das Lebenseinkommen im inter- und intragenerationalen Vergleich? Sind Unterschiede zwischen den Geschlechtern zu beobachten? Welchen Einfluss haben Phasen der Arbeitslosigkeit auf das Lebenseinkommen?
Die Infoplattform widmet sich den theoretischen Grundlagen und empirischen Studien zum Thema.
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Literaturhinweis
Vom Gender Gap zum Gender Gain: Wissenschaftliche Erkenntnisse und Anregungen zur Politikgestaltung (2024)
Allmendinger, Jutta; Boden, Michelle;Zitatform
Allmendinger, Jutta & Michelle Boden (2024): Vom Gender Gap zum Gender Gain: Wissenschaftliche Erkenntnisse und Anregungen zur Politikgestaltung. In: Ifo-Schnelldienst, Jg. 77, H. 8, S. 7-10.
Abstract
"Die finanzielle Gleichstellung von Frauen und Männern, Müttern und Vätern sei noch lange nicht erreicht, erklären Jutta Allmendinger und Michelle Boden, Wissenschaftszentrum Berlin für Sozialforschung. Insbesondere die immensen Unterschiede in den Lebenseinkommen zeigen dies deutlich. Aus ihrer Sicht wird es noch einige Zeit dauern, bis die ökonomische Gleichstellung tatsächlich Realität sei. Dies liege nicht nur an langwierigen politischen Entscheidungsprozessen, sondern auch an hartnäckigen Vorurteilen und Stereotypen, die Frauen und Männer in verschiedene Rollen zwängen und Entscheidungen beeinflussen. Ein Teufelskreis aus Strukturen und Kulturen." (Autorenreferat, IAB-Doku)
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Literaturhinweis
The life-cycle dynamics of wealth mobility (2024)
Audoly, Richard; McGee, Rory; Ocampo Díaz, Sergio; Paz Pardo, Gonzalo;Zitatform
Audoly, Richard, Rory McGee, Sergio Ocampo Díaz & Gonzalo Paz Pardo (2024): The life-cycle dynamics of wealth mobility. (CLEF working paper series / Canadian Labour Economics Forum 68), Waterloo, ON, 77 S.
Abstract
"We use 25 years of tax records for the Norwegian population to study the mobility of wealth over people's lifetimes. We find considerable wealth mobility over the life cycle. To understand the underlying mobility patterns, we group individuals with similar wealth rank histories using agglomerative hierarchical clustering, a tool from statistical learning. The mobility patterns we elicit provide evidence of segmented mobility. Over 60 percent of the population remains at the top or bottom of the wealth distribution throughout their lives. Mobility is driven by the remaining 40 percent, who move only within the middle of the distribution. Movements are tied to differential income trajectories and business activities across groups. We show parental wealth is the key predictor of who is persistently rich or poor, while human capital is the main predictor of those who rise and fall through the middle of the distribution." (Author's abstract, IAB-Doku) ((en))
Ähnliche Treffer
auch erschienen als: Staff Reports, 1097 -
Literaturhinweis
After 40 Years, How Representative Are Labor Market Outcomes in the NLSY79? (2024)
Zitatform
Bick, Alexander, Adam Blandin & Richard Rogerson (2024): After 40 Years, How Representative Are Labor Market Outcomes in the NLSY79? (NBER working paper / National Bureau of Economic Research 32361), Cambridge, Mass, 58 S.
Abstract
"In 1979, the National Longitudinal Study of Youth 1979 (NLSY79) began following a group of US residents born between 1957 and 1964. It has continued to re-interview these same individuals for more than four decades. Despite this long sampling period, attrition remains modest. This paper shows that after 40 years of data collection, the remaining NLYS79 sample continues to be broadly representative of their national cohorts with regard to key labor market outcomes. For NLSY79 age cohorts, life-cycle profiles of employment, hours worked, and earnings are comparable to those in the Current Population Survey. Moreover, average lifetime earnings over the age range 25 to 55 closely align with the same measure in Social Security Administration data. Our results suggest that the NLSY79 can continue to provide useful data for economists and other social scientists studying life-cycle and lifetime labor market outcomes, including earnings inequality." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Migrant*innen der ersten Generation gelingt der Aufstieg in die Einkommenselite deutlich seltener als Deutschen (2024)
Zitatform
Collischon, Matthias, Anja Wunder & Florian Zimmermann (2024): Migrant*innen der ersten Generation gelingt der Aufstieg in die Einkommenselite deutlich seltener als Deutschen. In: IAB-Forum H. 24.10.2024. DOI:10.48720/IAB.FOO.20241024.01
Abstract
"Im obersten Prozent der Einkommensverteilung sind neben Frauen auch Migrant*innen deutlich unterrepräsentiert, insbesondere solche aus Nicht-EU-Staaten. Der Rückstand gegenüber der einheimischen Bevölkerung hat sich in den letzten Jahren noch vergrößert." (Autorenreferat, IAB-Doku)
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Literaturhinweis
Growing or declining penalties? A cross-temporal analysis of unemployment scars in the German labor market (2024)
Zitatform
Dieckhoff, Martina & Johannes Giesecke (2024): Growing or declining penalties? A cross-temporal analysis of unemployment scars in the German labor market. In: Social science research, Jg. 121. DOI:10.1016/j.ssresearch.2023.102960
Abstract
"We know that unemployment leaves scars. Unemployment scars are the penalties in terms of employment outcomes that workers experience due to past unemployment. To date we lack a long-term longitudinal account which examines how unemployment scarring has developed over time. The aim of this article is to fill this gap. We draw on longitudinal data from the German Socio-Economic Panel spanning a period of more than 30 years, from 1985 to 2020, and investigate long-term time trends of unemployment scarring. The German labor market has experienced profound structural and institutional change over the past decades. These changes have been associated with increased inequalities in the labor market. We examine whether the substantial transformation of the German labor market also had repercussions for the extent of postunemployment penalties. We focus on employment probabilities and wages, and consider both short-term (two years after the unemployment incidence) and mid-term outcomes (four years after the unemployment incidence). Changes in the amount of unemployment scarring over time can also occur due to changes in the composition of the unemployed. Our analyses therefore do not only investigate how macro-economic and institutional change are associated with varying amounts of unemployment scarring, but also control for and examine the role of compositional change." (Author's abstract, IAB-Doku, © 2024Elsevier) ((en))
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Literaturhinweis
How do my earnings compare? Pay referents and just earnings (2024)
Zitatform
Eisnecker, Philipp Simon & Jule Adriaans (2024): How do my earnings compare? Pay referents and just earnings. In: European Sociological Review, Jg. 40, H. 1, S. 129-142. DOI:10.1093/esr/jcad002
Abstract
"Comparisons are crucial in shaping evaluations of one’s own position. Following this notion, we investigated the role of historical, financial, partner, occupational, and regional pay referents in predicting the just gross hourly earnings in a representative sample of German workers. Looking at this broad range of pay referents, we find that higher reference earnings were generally associated with higher just earnings. In particular, controlling for actual gross hourly earnings, higher occupational, regional, and partners’ hourly earnings were associated with higher just gross hourly earnings. One’s own pay history, in form of average hourly earnings over the past 10 years, did not shape just earnings. Financial needs on the household level, however, mapped on to higher just earnings and this association was particularly pronounced among men. Overall, occupational and financial referents showed the strongest association with just earnings followed by partner earnings. These findings underscore that, while referents closely related to one’s job (e.g., occupational referents) are important, referents that extend beyond the sphere of work (e.g., regional, financial, and partner referents) are also relevant in shaping ideas of the just reward." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Lives in Welfare States: Life Courses, Earnings Accumulation, and Relative Living Standards in Five European Countries (2024)
Fasang, Anette Eva ; Andrade, Stefan Bastholm; Bedük, Selçuk ; Karhula, Aleksi ; Buyukkececi, Zafer;Zitatform
Fasang, Anette Eva, Stefan Bastholm Andrade, Selçuk Bedük, Zafer Buyukkececi & Aleksi Karhula (2024): Lives in Welfare States: Life Courses, Earnings Accumulation, and Relative Living Standards in Five European Countries. In: American journal of sociology, Jg. 130, H. 2, S. 384-438. DOI:10.1086/730851
Abstract
"How do work and family life courses differ in welfare states with varying emphasis on the state, market, and family for welfare provision? The authors compare life courses until midlife in Denmark, Finland, the United Kingdom, former West Germany, and reunified Germany. Longitudinal life course analyses using administrative and survey data support three main conclusions. First, young adults who accumulate high earnings experience similar life courses in all countries. In contrast, typical life courses of low earners, particularly their family lives, differ widely between European welfare states. Second, constellations of decommodifying, familizing, and defamilizing policies shape cross-national differences in typical low-earning life courses, their primary sources of economic support, and relative living standards. Third, women are most likely to experience low-earning life courses in familizing welfare states (Germany, United Kingdom) compared to relative gender equality among low-earning life course types in welfare states that combine high defamilization and decommodification (Denmark, Finland)." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Unterschiede in den Jahresverdiensten zwischen Männern und Frauen: Der Gender Pay Gap wurde in der Coronakrise kleiner - außer bei niedrigen Verdiensten (2024)
Zitatform
Fitzenberger, Bernd, Anna Houštecká & Alexander Patt (2024): Unterschiede in den Jahresverdiensten zwischen Männern und Frauen: Der Gender Pay Gap wurde in der Coronakrise kleiner - außer bei niedrigen Verdiensten. (IAB-Kurzbericht 01/2024), Nürnberg, 8 S. DOI:10.48720/IAB.KB.2401
Abstract
"Die Geschlechterunterschiede in den Jahresverdiensten (Gender Pay Gap) spiegeln Unterschiede sowohl im Stundenlohn als auch in der Arbeitszeit und der Beschäftigungswahrscheinlichkeit wider. Je nach Verdienstniveau vor der Coronakrise waren Männer und Frauen von der Krise unterschiedlich betroffen: Während die Frauen mit mittleren und hohen Jahresverdiensten im Vergleich zu den Männern zwischen 2019 und 2021 aufholten, erfuhren die Frauen mit den niedrigsten Verdiensten deutlich stärkere Verluste als die Männer. In dem Kurzbericht wird untersucht, wie sich die Coronakrise auf die Jahresverdienste der Frauen und Männer insgesamt ausgewirkt hat und wie sich der Gender Pay Gap je nach Höhe der Verdienste und nach Beschäftigungsform (Vollzeit, Teilzeit, Minijob) entwickelt hat. Außerdem werden Übergangsraten zwischen den verschiedenen Beschäftigungsformen betrachtet." (Autorenreferat, IAB-Doku)
Weiterführende Informationen
- Veränderung des Gender Pay Gaps über die Verdienstverteilung hinweg getrennt nach Beschäftigten in Vollzeit, Teilzeit und Minijobs
- Veränderung der Jahresverdienste nach Dezilen und Geschlecht
- Veränderung des Gender Pay Gaps über die Verdienstverteilung hinweg
- Veränderung der Verbleibsrate in Vollzeit- und Teilzeitbeschäftigung über zwei Jahre
- Veränderung der Übergangsrate von Vollzeit- und Teilzeitbeschäftigten in Nichtbeschäftigung über zwei Jahre
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Literaturhinweis
The gender gap in lifetime earnings: A microsimulation approach (2024)
Zitatform
Glaubitz, Rick, Astrid Harnack-Eber & Miriam Wetter (2024): The gender gap in lifetime earnings: A microsimulation approach. In: Labour, Jg. 38, H. 4, S. 425-474. DOI:10.1111/labr.12274
Abstract
"To obtain a more complete understanding of the persisting gender earnings gap in Germany, this paper investigates both the cross-sectional and lifetime dimension of gender inequalities. Based on a dynamic microsimulation model, we analyse how gender differences accumulate over work lives to examine the lifetime dimension of the gender gap. We estimate an average gender gap in lifetime earnings of 51.5 per cent for birth cohorts 1964–72. We show that this unadjusted gender lifetime earnings gap increases strongly with the number of children, ranging from 17.3 per cent for childless women to 68.0 per cent for women with three or more children. Results from a counterfactual analysis approach show an adjusted gender gap in lifetime earnings of around 10 per cent, suggesting that the gender gap in lifetime earnings is rather driven by gender differences in observable characteristics than by differences in rewards." (Author's abstract, IAB-Doku, Published by arrangement with John Wiley & Sons) ((en))
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Literaturhinweis
Consumption Dynamics and Welfare Under Non-Gaussian Earnings Risk (2024)
Guvenen, Fatih; Madera, Rocio; Ozkan, Serdar;Zitatform
Guvenen, Fatih, Serdar Ozkan & Rocio Madera (2024): Consumption Dynamics and Welfare Under Non-Gaussian Earnings Risk. (NBER working paper / National Bureau of Economic Research 32298), Cambridge, Mass, 54 S.
Abstract
"Recent empirical studies document that the distribution of earnings changes displays substantial deviations from lognormality: in particular, earnings changes are negatively skewed with extremely high kurtosis (long and thick tails), and these non-Gaussian features vary substantially both over the life cycle and with the earnings level of individuals. Furthermore, earnings changes display nonlinear (asymmetric) mean reversion. In this paper, we embed a very rich “benchmark earnings process” that captures these non-Gaussian and nonlinear features into a lifecycle consumption-saving model and study its implications for consumption dynamics, consumption insurance, and welfare. We show four main results. First, the benchmark process essentially matches the empirical lifetime earnings inequality—a first-order proxy for consumption inequality—whereas the canonical Gaussian (persistent-plus-transitory) process understates it by a factor of five to ten. Second, the welfare cost of idiosyncratic risk implied by the benchmark process is between two-to-four times higher than the canonical Gaussian one. Third, the standard method in the literature for measuring the pass-through of income shocks to consumption—can significantly overstate the degree of consumption smoothing possible under non-Gaussian shocks. Fourth, the marginal propensity to consume out of transitory income (e.g., from a stimulus check) is higher under non-Gaussian earnings risk." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
The Association between the Volatility of Income and Life Expectancy in the U.S. (2024)
Hotz, V. Joseph; Wiemers, Emily; Ziff, Anna;Zitatform
Hotz, V. Joseph, Anna Ziff & Emily Wiemers (2024): The Association between the Volatility of Income and Life Expectancy in the U.S. In: Journal of labor economics. DOI:10.1086/732668
Abstract
"We examine the relationship between income volatility and life expectancy in mid-sized U.S. commuting zones between 2006 and 2014. We use a commercial dataset, Info USA, to measure income volatility which we link to estimates of life expectancy by gender, county,race, and income. We find that higher income volatility in a county is associated with lower life expectancy, but only at the bottom of the income distribution and primarily for non-HispanicWhites. Though we cannot extrapolate our findings to individual-level relationships, we dolink them to existing literatures on place-based differences in mortality and the relationship between volatility and health." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
The Gender Gap in Earnings Losses After Job Displacement (2024)
Zitatform
Illing, Hannah, Johannes F. Schmieder & Simon Trenkle (2024): The Gender Gap in Earnings Losses After Job Displacement. In: Journal of the European Economic Association, Jg. 22, H. 5, S. 2108-2147., 2023-10-07. DOI:10.1093/jeea/jvae019
Abstract
"We compare men and women who are displaced from similar jobs by applying an event study design combined with propensity score matching and reweighting to administrative data from Germany. After a mass layoff, women’ s earnings losses are about 35% higher than men’ s, with the gap persisting five years after displacement. This is partly explained by women taking up more part-time employment, but even women’ s full-time wage losses are almost 50% higher than men’ s. Parenthood magnifies the gender gap sharply. Finally, displaced women spend less time on job search and apply for lower-paid jobs, highlighting the importance of labor supply decisions." (Author's abstract, IAB-Doku, © Oxford Academic) ((en))
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Literaturhinweis
Demography, Human Capital Investment, and Lifetime Earnings for Women and Men (2024)
Zitatform
Jacobsen, Joyce P., Melanie Khamis & Mutlu Yuksel (2024): Demography, Human Capital Investment, and Lifetime Earnings for Women and Men. (IZA discussion paper / Forschungsinstitut zur Zukunft der Arbeit 16936), Bonn, 32 S.
Abstract
"Can the demographic trends of increased life expectancy and decreasing birth rates, along with the labor market patterns of returns to human capital investment and changes in real hourly earnings, account for changes in women's and men's lifetime earnings? Using a Vector Error Correction Model to analyze annual US CPS data from 1964 to 2019, we find patterns linking these factors and demonstrating that they have significant roles to women's lifetime earnings but not to men's. These findings are consistent with the convergence of gender earning gap has occurred mainly due to women's responses to changing demographic and socioeconomic factors." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Estimation of a Life-Cycle Model with Human Capital, Labor Supply, and Retirement (2024)
Taber, Christopher; Seshadri, Ananth; Fan, Xiaodong;Zitatform
Taber, Christopher, Ananth Seshadri & Xiaodong Fan (2024): Estimation of a Life-Cycle Model with Human Capital, Labor Supply, and Retirement. In: Journal of Political Economy, Jg. 132, H. 1, S. 48-95. DOI:10.1086/726232
Abstract
"We estimate a life-cycle model of consumption, human capital investment, and labor supply. The interaction between human capital and labor supply towards the end of the life cycle is most novel. The estimates replicate the main features of the data, in particular the large increase in wages and small increase in labor supply at the beginning of the life cycle and the small decrease in wages but large decrease in labor supply towards the end. We show that incorporating human capital is critical when analyzing changes to Social Security." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
What if it is not just an additional income? Poverty risks of non-standard employment histories in Germany (2024)
Zitatform
Wolf, Fridolin (2024): What if it is not just an additional income? Poverty risks of non-standard employment histories in Germany. In: International Journal of Social Welfare, S. 1-17. DOI:10.1111/ijsw.12676
Abstract
"While the poverty risks associated with transitions to and from different forms of non-standard employment (NSE) have been studied extensively, poverty research on NSE histories remains fuzzy. Therefore, this study focuses on persons with NSE histories whose earnings contribute significantly to the household income, asking to what extent they are exposed to income poverty risks during their main career phase and examining the role of employment, family and sociodemographic characteristics. Employment histories were observed over 10 years using German Socio-Economic Panel data from 2001 to 2020. A sequence cluster analysis identified four NSE clusters with increased poverty risks, namely, those with increasing and permanent low-part-time work, those who were mainly temporary agency-employed or had long episodes of fixed-term employment. Multivariate regressions considering employment-specific, care-related and sociodemographic characteristics revealed a network of cumulative disadvantages related to gender, occupational position, care obligations and structural disadvantages for those clusters." (Author's abstract, IAB-Doku, Published by arrangement with John Wiley & Sons) ((en))
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Literaturhinweis
Biased Wage Expectations and Female Labor Supply (2023)
Blesch, Maximilian; Eisenhauer, Philipp; Ilieva, Boryana; Haan, Peter; Schrenker, Annekatrin ; Weizsäcker, Georg;Zitatform
Blesch, Maximilian, Philipp Eisenhauer, Peter Haan, Boryana Ilieva, Annekatrin Schrenker & Georg Weizsäcker (2023): Biased Wage Expectations and Female Labor Supply. (Discussion paper / Rationality & Competition, CCR TRR 190 411), München ; Berlin, 30 S.
Abstract
"Wage growth occurs almost exclusively in full-time work, whereas it is close to zero in part-time work. German women, when asked to predict their own potential wage outcomes, show severely biased expectations with strong over-optimism about the returns to part-time experience. We estimate a structural life-cycle model to quantify how beliefs influence labor supply, earnings and welfare over the life cycle. The bias increases part-time employment strongly, induces flatter long-run wage profiles, and substantially influences the employment effects of a widely discussed policy reform, the introduction of joint taxation. The most significant impact of the bias appears for college-educated women." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
The Road to Retirement: A Life Course Perspective on Labor Market Trajectories and Retirement Behaviors (2023)
Brydsten, Anna; Hasselgren, Caroline; Stattin, Mikael; Larsson, Daniel;Zitatform
Brydsten, Anna, Caroline Hasselgren, Mikael Stattin & Daniel Larsson (2023): The Road to Retirement: A Life Course Perspective on Labor Market Trajectories and Retirement Behaviors. In: Work, Aging and Retirement, S. 1-12. DOI:10.1093/workar/waad024
Abstract
"While a prolonged working life has been mainly feasible for people with the most advantageous working careers, knowledge about the barriers for those with vulnerable occupational paths is still scarce. This study explores the conditions for prolonged working life from a perspective on labor market trajectories. Drawing from a gendered life course perspective and that (dis)advantageous tends to accumulate over time, we investigate the opportunity structure for the most disadvantaged workers and which characteristics of labor market trajectories can explain the decision to work longer. To this end, a Swedish longitudinal survey and register data from the Panel Survey of Ageing and the Elderly (PSAE) were used, following people across a substantial part of their working life. With sequence analysis, we identified 5 trajectories that represent typical labor market trajectories from mid-life until retirement age. Our findings showed that labor market precarity in mid-life remained a key characteristic until the expected retirement age, showing both early signs of early labor market exit and a precarity trap into a prolonged working life. These findings emphasize the need to identify at-risk groups early in their careers and that mid-life interventions are needed to prevent involuntary labor market exits and to ensure a sustainable working life. In particular, the need to protect older workers with turbulent or precarious labor market trajectories against labor market risks and retirement schemes that could inadvertently contribute to increased social and economic inequality in later life." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Top earners: A labor productivity process (2023)
Zitatform
Campanale, Claudio & Rocío Fernández-Bastidas (2023): Top earners: A labor productivity process. In: Economics Letters, Jg. 229. DOI:10.1016/j.econlet.2023.111195
Abstract
"In the present paper we compare standard wage processes used in the quantitative literature on the optimal tax progressivity and a process with heterogeneous life-cycle profiles (HIP hereafter) that we propose against the data. We find that the former fail to capture several features of the earnings dynamics at the very top of the distribution while our proposed model improves along some of these dimensions." (Author's abstract, IAB-Doku, © 2023 Elsevier) ((en))
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Literaturhinweis
Why Do Wages Grow Faster for Educated Workers? (2023)
Deming, David J.;Zitatform
Deming, David J. (2023): Why Do Wages Grow Faster for Educated Workers? (NBER working paper / National Bureau of Economic Research 31373), Cambridge, Mass, 44 S.
Abstract
"The U.S. college wage premium doubles over the life cycle, from 27 percent at age 25 to 60 percent at age 55. Using a panel survey of workers followed through age 60, I show that growth in the college wage premium is primarily explained by occupational sorting. Shortly after graduating, workers with college degrees shift into professional, nonroutine occupations with much greater returns to tenure. Nearly 90 percent of life cycle wage growth occurs within rather than between jobs. To understand these patterns, I develop a model of human capital investment where workers differ in learning ability and jobs vary in complexity. Faster learners complete more education and sort into complex jobs with greater returns to investment. College acts as a gateway to professional occupations, which offer more opportunity for wage growth through on-the-job learning." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Safety Net or Helping Hand? The Effect of Job Search Assistance and Compensation on Displaced Workers (2023)
Zitatform
Fackler, Daniel, Jens Stegmaier & Richard Upward (2023): Safety Net or Helping Hand? The Effect of Job Search Assistance and Compensation on Displaced Workers. (IWH-Diskussionspapiere / Leibniz-Institut für Wirtschaftsforschung Halle 2023,18), Halle, 37 S.
Abstract
"We provide the first systematic evidence on the effectiveness of a contested policy in Germany to help displaced workers. So-called “transfer companies” (Transfergesellschaften) employ displaced workers for a fixed period, during which time workers are provided with job-search assistance and are paid a wage which is a substantial fraction of their pre-displacement wage. Using rich and accurate data on workers’ employment patterns before and after displacement, we compare the earnings and employment outcomes of displaced workers who entered transfer companies with those that did not. Workers can choose whether or not to accept a position in a transfer company, and therefore we use the availability of a transfer company at the establishment level as an IV in a model of one-sided compliance. Using an event study, we find that workers who enter a transfer company have significantly worse post-displacement outcomes, but we show that this is likely to be the result of negative selection: workers who lack good outside opportunities are more likely to choose to enter the transfer company. In contrast, ITT and IV estimates indicate that the use of a transfer company has a positive and significant effect on employment rates five years after job loss, but no significant effect on earnings. In addition, the transfer company provides significant additional compensation to displaced workers in the first 12 months after job loss." (Author's abstract, IAB-Doku) ((en))