Unobserved heterogeneity and risk in wage variance: Does more schooling reduce earnings risk?
Jacopo Mazza (),
Hans van Ophem and
Labour Economics, 2013, vol. 24, issue C, 323-338
We apply a recently proposed method to disentangle unobserved heterogeneity from risk in returns to education to data for the USA, the UK and Germany. We find that in residual wage variation, uncertainty by far dominates unobserved heterogeneity. The relation between uncertainty and level of education is not monotonic and differs among countries.
Keywords: Wage inequality; Wage uncertainty; Unobserved heterogeneity; Selectivity; Education; Replication (search for similar items in EconPapers)
JEL-codes: C01 C33 C34 J31 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:labeco:v:24:y:2013:i:c:p:323-338
Access Statistics for this article
Labour Economics is currently edited by A. Ichino
More articles in Labour Economics from Elsevier
Bibliographic data for series maintained by Haili He ().