Firm‐specific Human Capital Accumulation: Evidence from Brazil*
利用巴西1999-2014年行政数据，将企业特定经验与任期回报纳入标准双向固定效应模型，发现任期回报与企业工资溢价关系不显著，而经验回报与工资溢价负相关，尤其在蓝领企业更明显。
Abstract We introduce firm‐specific returns to experience and tenure into a standard two‐way fixed effects model, show that they are separately identified under the standard exogenous mobility assumption and with sufficient between firm mobility, and provide a new evidence on heterogeneity of returns to experience and tenure across firms using the administrative data from Brazil over the years 1999–2014. We document that (1) returns to tenure are not strongly related to firm wage premia, (2) returns to experience are strongly negatively correlated with firm wage premia, (3) the relationship between firm wage premium and return to experience is stronger for ‘blue collar’ firms.