Evidence suggests that acquiring human capital is related to better life outcomes, yet young peoples' decisions to invest in or stop acquiring human capital are still poorly understood. We investigate the role of time and reference-dependent preferences in such decisions. Using a data set that...

This paper analyses whether the short- and mid-term labour market outcomes of Swiss university graduates are affected by the state of the domestic economy at the time of labour market entry, where the economic conditions are captured by the regional unemployment rate at the time of graduation....