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Technological change has considerable impact on human capital stock. Its impact, however, may be different on different types of human capital. As two major types of human capital investment, schooling and training are specialised to different degrees, therefore human capital obtained from schooling and that obtained from training embody different proportions of general and specific skills and may be affected differently by technological change. Focusing on the difference between human capital obtained from schooling and that from training, I develop a life-cycle human capital investment model to investigate the separate effects of technological change on schooling human capital and training human capital. Using data from National Longitudinal Survey of Youth 79 (1987-1994), I estimate the model parameters by using the method of nonlinear least squares. I find that training human capital is more vulnerable to obsolescence due to technological change than is schooling human capital, which suggests that individuals with more schooling enjoy an advantage in dealing with technological change over those with less schooling.

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