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Returns to education and experience on the labor market : a matching perspective

Abstract : This thesis’ main objects of interest are the wage returns to education and experience on labor markets, and the earning inequalitiesthese returns generate. It seeks to understand these returns from a matching perspective, by investigating determinants of relationshipformation between workers and firms. The first chapter documents flattening wage returns to experience between higher educationgraduates entering the French labor market in 1998 and 2010. Differences in average wage growth are decomposed by occupation intoan extensive and intensive margin. Two potential mechanisms behind the wage growth slow down are explored: access to managerialpositions and impact of initial match quality. I find access to managerial positions is more infrequent for recent cohorts. I also find thatinitial match quality has not worsened between the 1998 and 2010 cohorts, but its impact on future wages has become more enduring.The second chapter studies the decrease in the education wage premium on the Portuguese labor market between 1987 and 2017.I build a model of one-to-many matching with multidimensional types in which several workers are employed by a single firm. I structurallyestimate the model on matched employer-employee data. Counterfactual exercises suggest that both changes in worker preferences andthe increasing relative productivity of high school graduates over non-graduates act as a mitigating force on the decreasing high schoolwage premium, but do not fully compensate for high school graduates' rise in relative supply. In the third chapter, co-authored with JeremyFox and Alfred Galichon, we explore how expectations on future returns influence matching decisions. We introduce a model of dynamicmatching with transferable utility. We explore aggregate dynamics and show that a stationary equilibrium exists. We propose twoalgorithms to compute a stationary equilibrium and adapt both methods for estimation.
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Submitted on : Tuesday, November 15, 2022 - 10:38:23 AM
Last modification on : Thursday, November 17, 2022 - 4:38:18 PM

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  • HAL Id : tel-03852824, version 1

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Pauline Corblet. Returns to education and experience on the labor market : a matching perspective. Economics and Finance. Institut d'études politiques de paris - Sciences Po, 2022. English. ⟨NNT : 2022IEPP0008⟩. ⟨tel-03852824⟩

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