Human Capital Values and Returns:Bounds Implied By Earnings and Asset Returns Data
Mark Huggett and Greg Kaplan ()
Additional contact information
Mark Huggett and Greg Kaplan: Department of Economics, Georgetown University, http://www9.georgetown.edu/faculty/mh5/
Authors registered in the RePEc Author Service: Mark Huggett () and
Greg Warren Kaplan
Working Papers from Georgetown University, Department of Economics
We provide theory for calculating bounds on both the value of an individual's human capital and the return on an individual's human capital, given knowledge of the process governing earnings and financial asset returns. We calculate bounds using U.S. data on male earnings and financial asset returns. The large idiosyncratic component of earnings risk implies that bounds on values and returns are quite loose. However, when aggregate shocks are the only source of earnings risk, both bounds are tight.
Keywords: Value of Human Capital; Return on Human Capital; Asset Pricing (search for similar items in EconPapers)
JEL-codes: J24 G12 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge and nep-hrm
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
http://www8.georgetown.edu/departments/economics/pdf/102.pdf Full text (application/pdf)
Journal Article: Human capital values and returns: Bounds implied by earnings and asset returns data (2011)
Working Paper: Human capital values and returns: bounds implied by earnings and asset returns data (2010)
Working Paper: Human Capital Values and Returns: Bounds Implied By Earnings and Asset Returns Data (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:geo:guwopa:gueconwpa~10-10-02
Ordering information: This working paper can be ordered from
Roger Lagunoff Professor of Economics Georgetown University Department of Economics Washington, DC 20057-1036
Access Statistics for this paper
More papers in Working Papers from Georgetown University, Department of Economics Georgetown University Department of Economics Washington, DC 20057-1036.
Series data maintained by Marcia Suss ().