@TechReport{iza:izadps:dp4215,
            	author={Burdett, Ken and Carrillo-Tudela, Carlos and Coles, Melvyn},
            	title={Human Capital Accumulation and Labour Market Equilibrium},
            	year={2009},
	month={Jun},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={4215},
            	url={https://www.iza.org/index.php/publications/dp4215},
	abstract={We analyse an equilibrium labour market with on-the-job search and experience effects (where workers learn-by-doing). The analysis yields a standard Mincer wage equation with worker fixed effects and endogenously determined firm fixed effects. It shows that learning-by-doing increases equilibrium wage dispersion consistent with the data. Equilibrium sorting - where over time more experienced workers also tend to find and quit to better paid employment - has a significant impact on wage inequality. As the model yields a cross section distribution of wages paid with the 'right' structure (the density of wages paid is single peaked with a 'fat' Pareto right tail) and yields the 'right' time profile of worker wage outcomes (the initial 10 years of a worker's career are characterised by several job changes and rapid wage growth) it yields a new, coherent statistical structure for future applied work.},
	keywords={human capital accumulation;wage dispersion;search},
            }