TIME‐VARYING EFFECTS OF HUMAN CAPITAL ON MILITARY RETENTION |
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| Authors: | DARRELL J. GLASER |
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| Affiliation: | Glaser: Assistant Professor of Economics, Department of Economics, United States Naval Academy, 589 McNair Road, Annapolis, MD 21402‐5030. Phone 410‐293‐6879, Fax 410‐293‐6899, E‐mail dglaser@usna.edu |
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| Abstract: | This paper examines how human capital acquired at the onset of a military career has an evolving effect on retention decisions. Using data of Marine officers that extends across 20‐year horizons, estimates of the hazard related to separation rates indicate that initial differences in general and firm‐specific human capital have time‐varying effects on retention across the duration of a career. Additional evidence suggests that the effects of higher economy‐wide unemployment as well as the onset of wars succeeding from September 2001 also change retention decisions and depend on officers' length of service. (JEL J6, J41, J45) |
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