Human Capital Investments Among Veterinarians

Authors

  • David M. Smith Pepperdine University
  • Samuel L. Seaman Pepperdine University
  • Yury Adamov Pepperdine University

DOI:

https://doi.org/10.33423/jabe.v23i7.4866

Keywords:

business, economics, human capital, earnings expectations, rational expectations, occupational choice

Abstract

Professional labor markets can be affected by alternating periods of excess or scarcity in labor. The phenomenon is most prevalent in labor markets where a substantial lag occurs between occupational choice and labor market entry. In this paper, a unique longitudinal dataset from veterinary labor markets is used to identify factors significantly associated with volatility in labor supply. Our econometric analysis establishes a statistically significant relationship between boom-bust cycles in labor and certain pertinent variables: entry-level earnings, a demand proxy, and supply-side features. Results support the notion that decision-makers gauge the expected levels of these variables when making career choices.

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Published

2021-12-29

How to Cite

Smith, D. M., Seaman, S. L., & Adamov, Y. (2021). Human Capital Investments Among Veterinarians. Journal of Applied Business and Economics, 23(7). https://doi.org/10.33423/jabe.v23i7.4866

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Section

Articles