Empirical Age-Earnings Profiles
指出标准的人力资本收入函数严重低估早期职业收入增长30%-50%，高估中期增长20%-50%，并提供了拟合数据更优的简单替代模型。
The "human capital earnings function, " in which earnings are expressed as a quadratic in potential experience, is probably the most widely accepted empirical specification in economics. In spite of its widespread acceptance, the human capital earnings function provides a very poor approximation of the true empirical relationship between earnings and experience. The standard formulation understates early career earnings growth by about 30 percent-50 percent and overstates midcareer growth by 20 percent-50 percent. However, simple alternative specifications that fit the data are available. Copyright 1990 by University of Chicago Press.