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The impact of psychological and human capital on wages

Publication ,  Journal Article
Goldsmith, AH; Veum, JR; Darity Jr, WA
Published in: Economic Inquiry
1997

Historically, economists have taken the position that psychological capital is either unobservable or unmeasurable; thus, heretofore, little evidence has been available on the contribution of psychological capital to wages. Using data drawn from two different waves of the National Longitudinal Survey of Youth, we offer evidence that psychological capital has both a direct effect -via self-esteem - and an indirect effect - through locus of control - on an individual's real wage. We find a person's wage is more sensitive to changes in self-esteem than to comparable alterations in human capital. Both relative wages and human capital contribute to self-esteem. (JEL E24, J6).

Duke Scholars

Published In

Economic Inquiry

Publication Date

1997

Volume

35

Issue

4

Start / End Page

815 / 829

Related Subject Headings

  • Economics
  • 3803 Economic theory
  • 3802 Econometrics
  • 3801 Applied economics
  • 14 Economics
 

Citation

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MLA
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Goldsmith, A. H., Veum, J. R., & Darity Jr, W. A. (1997). The impact of psychological and human capital on wages. Economic Inquiry, 35(4), 815–829.
Goldsmith, A. H., J. R. Veum, and W. A. Darity Jr. “The impact of psychological and human capital on wages.” Economic Inquiry 35, no. 4 (1997): 815–29.
Goldsmith AH, Veum JR, Darity Jr WA. The impact of psychological and human capital on wages. Economic Inquiry. 1997;35(4):815–29.
Goldsmith, A. H., et al. “The impact of psychological and human capital on wages.” Economic Inquiry, vol. 35, no. 4, 1997, pp. 815–29.
Goldsmith AH, Veum JR, Darity Jr WA. The impact of psychological and human capital on wages. Economic Inquiry. 1997;35(4):815–829.

Published In

Economic Inquiry

Publication Date

1997

Volume

35

Issue

4

Start / End Page

815 / 829

Related Subject Headings

  • Economics
  • 3803 Economic theory
  • 3802 Econometrics
  • 3801 Applied economics
  • 14 Economics