The growing importance of cognitive skills in wage determination

Article Abstract:

The correlation between basic cognitive skills and wage determination was studied in longitudinal studies of high school seniors who graduated in 1972 and 1980. The studies were the National Longitudinal Study of the High School Class of 1972 and High School and Beyond. Basic cognitive skills include the ability to follow directions, compute fractions and decimals and analyze line groups. It was concluded that basic cognitive skills became the major determinants of wage levels by the middle of the 1980s.

Social aspects, Case studies, Academic achievement, Cognition

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Firm-specific determinants of the real wage

Article Abstract:

The significance of firm-specific variables in wage determination is tested through an analysis of a large panel data set of US labor contracts. It is revealed that sales, financial liquidity of the firm and capital-labor ratio are some of the firm-specific determinants of wages in the unionized sector.

Interpretation and construction, Labor contracts

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Does the baseball labor market contradict the human capital model of investment?

Article Abstract:

The human capital model of investment proposes that experienced workers are paid more only because they are more productive than their less experienced counterparts. However, analysis of Major League Baseball data shows that wages increase with experience regardless of productivity gains.

Models, Evaluation, Baseball players, Labor productivity, Human capital

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