NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Hyeok Jeong

KDI School of Public Policy and Management
87 Hoegiro, Dongdaemun-Gu
Seoul 130-868, Korea
Tel: +81-3-5413-6030
Fax: +81-3-5413-0016

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Institutional Affiliation: GRIPS

NBER Working Papers and Publications

September 2014The Price of Experience
with Yong Kim, Iourii Manovskii: w20457
We identify a key role of factor supply, driven by demographic changes, in shaping several empirical regularities that are a focus of active research in macro and labor economics. In particular, demographic changes alone can account for the large movements of the return to experience over the last four decades, for the differential dynamics of the age premium across education groups emphasized by Katz and Murphy (1992), for the differential dynamics of the college premium across age groups emphasized by Card and Lemieux (2001), and for the changes in cross-sectional and cohort-based life-cycle profiles emphasized by Kambourov and Manovskii (2005).

Published: Hyeok Jeong & Yong Kim & Iourii Manovskii, 2015. "The Price of Experience," American Economic Review, American Economic Association, vol. 105(2), pages 784-815, February. citation courtesy of

 
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