THE INFLUENCE OF HUMAN CAPITAL INVESTMENT ON MIGRATION AND INDUSTRY CHANGE*
研究衡量个人在地区、行业和职业中的人力资本投资，发现这些投资影响迁移决策，且迁移呈现生命周期模式：初期随新投资快速下降，后期作为更新投资和增加收入增长的机会重新出现。
ABSTRACT. Individuals’human capital investments in their regions, industries, and occupations are measured as a function of the years they spend in their current region, industry, or occupation, and these investments are shown empirically to influence migration. There is an interesting life cycle pattern to migration: it falls rapidly with new investments, but then resurfaces as an opportunity to renew investments and increase the growth rate of income. Income regressions substantiate the life cycle path of income growth implied by the migration model.