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Separating uncertainty from heterogeneity in life cycle earnings

Flavio Cunha, James Heckman and Salvador Navarro ()

No 2005:6, Working Paper Series from IFAU - Institute for Evaluation of Labour Market and Education Policy

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.

Keywords: earnings; unforecastable; forecastable (search for similar items in EconPapers)
JEL-codes: C33 D84 I21 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-lam and nep-ltv
Date: 2004-12-10
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed

Published in Oxford Economic Papers, 2005, pages 191-261.

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