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Human Capital Contracts in Chile: An Exercise Based on Income Data on chilean HE Graduates

Felipe Andrés Lozano-Rojas
Authors registered in the RePEc Author Service: Felipe Andres Lozano Rojas

Latin American Journal of Economics-formerly Cuadernos de Economía, 2012, vol. 49, issue 2, 185-215

Abstract: Given that a significant proportion of the Chilean education system is financed with household resources, we present human capital contracts (HCC) as an option for higher education financing for students facing financial constraints, but who could use their expected future income flows as collateral. We analyze the feasibility of HCC implementation in Chile over a set of college majors. We find that HCC can partially fund any college major in Chile and finance some majors completely, under certain conditions. Among the variables analyzed, those affecting most severely the contract pricing are initial wage level after graduation and graduation rate.

Keywords: Higher education returns; education financing; human capital; contracts; human capital earning functions; income contingent schemes (search for similar items in EconPapers)
JEL-codes: C01 I22 J24 J31 (search for similar items in EconPapers)
Date: 2012
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Working Paper: HUMAN Capital Contracts in Chile: An excercise based on Income data on Chilean HE graduates (2012) Downloads
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Latin American Journal of Economics-formerly Cuadernos de Economía is currently edited by Raimundo Soto

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