Separating uncertainty from heterogeneity in life cycle earnings

Flavio Cunha ...

This paper develops and applies a method for decomposing cross section variability of earnings into components that are forecastable at the time students decide to go to college (heterogeneity) and components that are unforecastable. About 60% of variability in returns to schooling is forecastable. This has important implications for using measured variability to price risk and predict college attendance.

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Year of publication:	Dec. 2004
Other Persons:	Cunha, Flávio (contributor) ; Heckman, James J. (contributor) ; Navarro, Salvador (contributor)
Publisher:	Bonn : IZA
Subject:	Lebenseinkommen \| Lifetime income \| Lebenszyklus \| Life cycle \| Bildungsverhalten \| Educational behaviour \| Bildungsertrag \| Returns to education \| Schätzung \| Estimation \| USA \| United States

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Extent:	Online Ressource, 71, [52] p., text ill
Series:	Discussion paper series / IZA. - Bonn : IZA, ZDB-ID 2120053-1. - Vol. 1437
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat reader
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10002529838