We apply a recently proposed method to disentangle unobserved heterogeneity from risk in returns to education. We … college education cannot universally be considered an insurance against unpredictability of wages. One conclusion is …

This paper estimates the health returns to education, using data on identical twins. I adopt a twin … both education and health. I further investigate to what extent within-twin-pair differences in schooling correlates with … education on health. Higher educational levels are found to be positively related to self-reported health but negatively related …