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- Title
LIFE-CYCLE JOB CHOICE AND THE DEMAND AND SUPPLY OF ENTRY LEVEL JOBS: SOME EVIDENCE FROM THE AIR FORCE.
- Authors
De Vany, Arthur S.; Saving, Thomas R.
- Abstract
The employer's demand for a stock of employees and the supplied duration of employment determine the flow demand for new hires. If flow supply and demand are in equilibrium, the supply of workers and their planned duration of employment must support equality of replacements and losses. The article presents a model for this process and estimate the model for the U.S. Air Force enlisted personnel market. Authors adopt the theory of life-cycle job choice problem. This theory posits job sequences as the objects of choice and the optimal sequence determines the type of job chosen at each point in the life cycle as well as the duration of employment in each job. Assume that individuals rank bundles of consumption and years in alternative jobs. Such an individual may choose a corner solution, spending his entire working life in a given job. As an offset to this negative effect of increased time spent in the entry level job, the skills acquired in the entry level job may increase earnings in the skilled job.
- Subjects
UNITED States; LABOR supply; SUPPLY &; demand; VOCATIONAL guidance; EMPLOYEE selection; UNITED States. Air Force; LABOR market; EMPLOYMENT; SKILLED labor
- Publication
Review of Economics & Statistics, 1982, Vol 64, Issue 3, p457
- ISSN
0034-6535
- Publication type
Article
- DOI
10.2307/1925944