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Life-Cycle Earning Capacity and the OJT Investment Model

Author/s: 
Eric A. Hanushek, John M. Quigley
Published Date: 
June 1985
Publication: 
International Economic Review
Details: 
26(2)
Pages: 
pp. 365-385

The empirical usefulness of human capital theory depends on the ability to characterize systematic differences in the investment patterns of individuals. Application of the theory to life-cycle earnings is problematic because, unlike schooling, post-schooling investment patterns are not directly observed.