Title:
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On the Industry Specificity of Human Capital and Business Cycles
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Author:
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Jerbashian, Vahagn; Slobodyan, Sergey; Vourvachaki, Evangelia
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Other authors:
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Universitat de Barcelona |
Abstract:
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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- |
Subject(s):
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-Cicles econòmics -Recursos humans -Població activa -Business cicles -Human capital -Labor supply |
Rights:
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cc-by-nc-nd, (c) Jerbashian et al., 2016
http://creativecommons.org/licenses/by-nc-nd/3.0/ |
Document type:
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Working Paper |
Published by:
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Universitat de Barcelona. Facultat d'Economia i Empresa
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