Separating uncertainty from heterogeneity in life cycle earnings

Flavio Cunha, James J. Heckman and Salvador Navarro

Oxford Economic Papers, 2005, vol. 57, issue 2, pages 191-261

Abstract: 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 forecastable. This has important implications for using measured variability to price risk and predict college attendance. Copyright 2005, Oxford University Press.

Date: 2005
View citations in EconPapers

Downloads: (external link)
http://hdl.handle.net/10.1093/oep/gpi019 (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Separating Uncertainty from Heterogeneity in Life Cycle Earnings (2005)
Working Paper: Separating uncertainty from heterogeneity in life cycle earnings (2004)
Working Paper: Separating Uncertainty from Heterogeneity in Life Cycle Earnings (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:oup:oxecpp:v:57:y:2005:i:2:p:191-261

Ordering information: This journal article can be ordered from
http://www.oup.co.uk/journals

Access Statistics for this article

Oxford Economic Papers is edited by A. Banerjee and James Forder

More articles in Oxford Economic Papers from Oxford University Press
Address: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
Series data maintained by Christopher F. Baum ().