The Pricing of Human Capital and Financial Assets

Ignacio Palacios-Huerta ()

Working Papers from Stanford - Hoover Institution

Abstract: This study derives labor-income-based measures of human capital returns diretly from the Euler equilibrium equations, and uses them (i) to evaluate the pricing of human capital assets and compare their pricing implications across individuals with different demographic characteristics, and (ii) to compare the asset pricing implications of human capital returns and financial returns.

Keywords: HUMAN CAPITAL; FINANCIAL ASSETS; PRICING (search for similar items in EconPapers)
JEL-codes: J24 J31 G11 G12 (search for similar items in EconPapers)
Date: 1997

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Persistent link: http://EconPapers.repec.org/RePEc:fth:stanho:e-97-3

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