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Si us plau utilitzeu sempre aquest identificador per citar o enllaçar aquest document: https://hdl.handle.net/2445/99000
On the Industry Specificity of Human Capital and Business Cycles
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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-
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JERBASHIAN, Vahagn, SLOBODYAN, Sergey and VOURVACHAKI, Evangelia. On the Industry Specificity of Human Capital and Business Cycles. UB Economics – Working Papers. 2016. Vol. E16/335. ISSN 1136-8365. [consulted: 11 of August of 2026]. Available at: https://hdl.handle.net/2445/99000