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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 |
URI: | http://hdl.handle.net/2445/99000 |
ISSN: | 1136-8365 |
Appears in Collections: | UB Economics – Working Papers [ERE] Documents de treball / Informes (Economia) |
Files in This Item:
File | Description | Size | Format | |
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E16-335-Jerbashian_OntheIndustry.pdf | 1.08 MB | Adobe PDF | View/Open |
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