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Separating Uncertainty from Heterogeneity in Life Cycle Earnings

Cunha, Flavio - 2005

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...

Persistent link: https://www.econbiz.de/10012467663

Human Capital Life Cycle of Earnings Models : A Specific Solution and Estimation

Lillard, Lee A. - 1973

The purpose of this paper is to consider human capital models of earning behavior over an individual lifetime. A general class of life cycle models relating to individual earnings behavior is developed by considering alternative formulation of the basic Ben- Porath type model. An explicit...

Persistent link: https://www.econbiz.de/10012479121

The Production of Human Capital and the Lifecycle of Earnings : Variations on a Theme

Mincer, Jacob - 1994

largely attributable to human capital investments? Section 3 tests the proposition that over the working age capacity wages (i ….e. wages before netting out investment) decline before observed wages do. Implied timing of labor supply provides the test. The …

Persistent link: https://www.econbiz.de/10012474077

Disentangling the Contemporaneous and Dynamic Effects of Human and Health Capital on Wages over the Life Cycle

Gilleskie, Donna - 2016

time of their lives when average annual weight gain is greatest. We allow body mass to explain variation in wages … behaviors that determine wages. We find significant differences in the contemporaneous effect and the dynamic effect of body … mass on wages, both across females of different races and over the distribution of wages …

Persistent link: https://www.econbiz.de/10012456247

Hours Worked and Lifetime Earnings Inequality

Bick, Alexander; Blandin, Adam; Rogerson, Richard Donald - National Bureau of Economic Research - 2024

We document large differences in lifetime hours of work using data from the NLSY79 and argue that these differences are an important source of inequality in lifetime earnings. To establish this we develop and calibrate a rich heterogeneous agent model of labor supply and human capital...

Persistent link: https://www.econbiz.de/10015072938

Optimal Taxation and Human Capital Policies over the Life Cycle

Stantcheva, Stefanie - 2015

This paper derives optimal income tax and human capital policies in a dynamic life cycle model of labor supply and risky human capital formation. The wage is a function of both stochastic, persistent, and exogenous "ability'' and endogenous human capital. Human capital is acquired throughout...

Persistent link: https://www.econbiz.de/10012457460

The Lifecycle of the 47%

Fullerton, Don - 2016

We assess the concentration and duration of zero tax liabilities and of transfer receipts, using data for households with ten to forty years of observations from the Panel Survey of Income Dynamics. We find that neither is strongly concentrated. Nearly 68% owe no federal tax in at least one...

Persistent link: https://www.econbiz.de/10012456099

What Should I Be When I Grow Up? Occupations and Unemployment over the Life Cycle

Gervais, Martin - 2014

Why is unemployment higher for younger individuals? We address this question in a frictional model of the labor market that features learning about occupational fit. In order to learn the occupation in which they are most productive, workers sample occupations over their careers. Because young...

Persistent link: https://www.econbiz.de/10012458037

Life Cycle Earnings, Education Premiums and Internal Rates of Return

Bhuller, Manudeep - 2014

earnings and steeper age-earnings profile, in line with predictions from human capital theory. These estimates imply an …

Persistent link: https://www.econbiz.de/10012458416

Fifty Years of Mincer Earnings Regressions

Heckman, James J. - 2003

option values, the internal rate of return - a cornerstone of classical human capital theory - is not a useful guide to …

Persistent link: https://www.econbiz.de/10012468966