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Separating uncertainty from heterogeneity in life cycle earnings

Flavio Cunha, James Heckman and Salvador Navarro ()

Oxford Economic Papers, 2005, vol. 57, issue 2, 191-261

Abstract: 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.

Date: 2005
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Related works:
Working Paper: Separating Uncertainty from Heterogeneity in Life Cycle Earnings (2005) Downloads
Working Paper: Separating uncertainty from heterogeneity in life cycle earnings (2004) Downloads
Working Paper: Separating Uncertainty from Heterogeneity in Life Cycle Earnings (2004) Downloads
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