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Title: On the Industry Specificity of Human Capital and Business Cycles
Author: Jerbashian, Vahagn
Slobodyan, Sergey
Vourvachaki, Evangelia
Keywords: Cicles econòmics
Recursos humans
Població activa
Business cicles
Human capital
Labor supply
Issue Date: 2016
Publisher: Universitat de Barcelona. Facultat d'Economia i Empresa
Series/Report no: [WP E-Eco16/335]
Abstract: We define specific -general- human capital as the set of occupations whose use is spread in a limited -wide- set of industries. Using the EU Labor Force Survey database, we identify these human capital types and analyze their employment and education. This exercise yields a persistent assignment of occupations into specific and general human capital types. The share of specific human capital varies across countries and has declined over time almost everywhere. We consider a stylized two-sector model where one of the sectors uses both types of human capital and the other specializes on general human capital. We show that a mean preserving increase in the share of specific human capital reduces -increases- the contribution of shocks in non-specialized sector and increases -reduces- the contribution of shocks in specialized sector to the variance of final output, when sectoral outputs are gross complements -substitutes-
It is part of: UB Economics – Working Papers, 2016, E16/335
ISSN: 1136-8365
Appears in Collections:UB Economics – Working Papers [ERE]

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