The Production of Human Capital and the Life Cycle of Earnings: Variations on a Theme
检验Ben-Porath关于人力资本投资与工资增长关系的理论，考察工作年龄内能力工资是否先于观察工资下降，并探讨该模型对人际差异及教育与培训相关性的含义。
In this work I enquire into the empirical validity and some implications of Yoram Ben-Porath's insights. Section II answers the question, Are the shapes and magnitudes of growth in wage profiles largely attributable to human capital investments? Section III tests the proposition that over the working age capacity wages decline before observed wages do. Implied timing of labor supply provides the test. In Section IV implications are drawn from Ben-Porath's model for interpersonal differences and for the correlation between schooling and training.