THE PRODUCTION OF HUMAN-CAPITAL AND THE LIFE-CYCLE OF EARNINGS - VARIATIONS ON A THEME

In this work I enquire into the empirical validity and some implicatio ns of Yoram Ben-Porath's insights. Section II answers the question, Ar e the shapes and magnitudes of growth in wage profiles largely attribu table to human capital investments? Section III tests the proposition that over the working age capacity wages decline before observed wages do. Implied timing of labor supply provides the test. In Section IV i mplications are drawn from Ben-Porath's model for interpersonal differ ences and for the correlation between schooling and training.