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Evolving Returns to Personality

Author

Listed:
  • Ramin Izadi

    (VATT Institute for Economic Research and Helsinki GSE)

  • Joonas Tuhkuri

    (Stockholm University)

Abstract

We analyze trends in labor-market returns to psychological traits using data from half a million Finnish men from 2001 to 2015. Cognitive skills’ value declined, while noncognitive skills’ value increased. Our novel findings show that extraversion drives this rise, while conscientiousness remains stable. Extraversion’s rising returns are most pronounced for lower earners and those on the employment margin. These traits predict different labor market paths: extraversion predicts lower education and more work experience, while cognitive ability and conscientiousness lead to higher education and high-paying jobs

Suggested Citation

  • Ramin Izadi & Joonas Tuhkuri, 2024. "Evolving Returns to Personality," RF Berlin - CReAM Discussion Paper Series 2416, Rockwool Foundation Berlin (RF Berlin) - Centre for Research and Analysis of Migration (CReAM).
    • Handle: RePEc:crm:wpaper:2416
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    More about this item

    Keywords

    noncognitive skills; personality; labor market; cognitive skills; educatio;
    All these keywords.

    JEL classification:

    • I26 - Health, Education, and Welfare - - Education - - - Returns to Education
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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