A proposal to estimate human capital depreciation: some evidence for Spain

María Arrazola, Jose de Hevia, Marta Risueño and José Félix Sanz Sanz ()
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Marta Risueño: Universidad Europea de Madrid
José Félix Sanz Sanz: Universidad Complutense de Madrid

Hacienda Pública Española / Review of Public Economics, 2005, vol. 172, issue 1, 9-22

Abstract: This article formulates an empirical model for salary determination, which permits the identification of the depreciation rate of the stock of professional qualifications. The analysis is implemented using the 1994 European Community Household Panel data referring to Spanish salaried males. The depreciation rate of the stock of qualifications is estimated at a narrow interval centred at 1%. Empirical evidence also suggests that although the depreciation rate does not vary according to the level of education, it does so depending on unemployment spells endured by the worker in recent years and on whether the worker has undertaken training courses.

Keywords: Human capital; depreciation; experience-earnings profiles (search for similar items in EconPapers)
JEL-codes: J24 J31 (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (8)

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