Mobility in the Labor Market for Academic Economists

Differences in the set of skills possessed by each individual in the market for academic economists affect that individual's mobility among academic institutions. Differences in acquired teaching, research, and service skills are associated with observed variations in faculty salaries. The total supply in each academic market consists of individuals with different quantities and qualities of skills. A demand for these skills is necessary in order for a market for academic skills to exist. If the institutions which produce the highest quality of output employ those faculty with the highest skill levels, these institutions should offer the most desired combinations of salary and compensation. The quality of undergraduate and graduate education received is a major determinant of an academic economist's career path. The quality of formal education is perceived to set an upper bound to future mobility. The quantity and quality of an economist's publications do improve his upward mobility slightly. A segmented academic market seems to exist for economists.