Magnac, Thierry; Pistolesi, Nicolas; Roux, Sébastien - Institute for the Study of Labor (IZA) - 2013
We propose an original model of human capital investments after leaving school in which individuals differ in their … initial human capital obtained at school, their rate of return, their costs of human capital investments and their terminal … values of human capital at a fixed date in the future. We derive a tractable reduced form Mincerian model of log earnings …