Separating uncertainty from heterogeneity in life cycle earnings
James Heckman and
Salvador Navarro ()
Oxford Economic Papers, 2005, vol. 57, issue 2, 191-261
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.
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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)
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Persistent link: https://EconPapers.repec.org/RePEc:oup:oxecpp:v:57:y:2005:i:2:p:191-261
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