exceed stock returns early in life and decline with age, (3) the stock component of the value of human capital is smaller …. These concepts are examined using U.S. data on male earnings and financial asset returns. We find that (1) the value of … human capital is far below the value implied by discounting earnings at the risk-free rate, (2) mean human capital returns …

than the stock component at all ages, (2) the value of human capital is far below the value implied by discounting earnings …. These concepts are examined using U.S. data on male earnings and financial asset returns. We decompose the value of human … capital into a bond, a stock and a residual value component. We find that (1) the bond component of human capital is larger …

than the stock component at all ages, (2) the value of human capital is far below the value implied by discounting earnings …. These concepts are examined using U.S. data on male earnings and financial asset returns. We decompose the value of human … capital into a bond, a stock and a residual value component. We find that (1) the bond component of human capital is larger …

value of human capital reflects the efficiency of allocation and utilisation of the human capital in the economy. To measure … this efficiency the concept of the market value of human capital is explained and developed in the present paper. The aim … of the paper is to introduce the concept of market value of human capital and the specific objectives are targeted to …

than the stock component at all ages, (2) the value of human capital is far below the value implied by discounting earnings …. These concepts are examined using U.S. data on male earnings and financial asset returns. We decompose the value of human … capital into a bond, a stock and a residual value component. We find that (1) the bond component of human capital is larger …