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Separating Uncertainty from Heterogeneity in Life Cycle Earnings

Flavio Cunha, James Heckman and Salvador Navarro ()

No 11024, NBER Working Papers from National Bureau of Economic Research, Inc

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.

JEL-codes: C33 D84 I21 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ecm
Date: 2005-01
Note: EFG ED LS CH
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Published as Cunha, Flavio, James Heckman and Salvador Navarro. "Separating Uncertainty From Heterogeneity In Life Cycle Earnings," Oxford Economic Papers, 2005, v57(2,Apr), 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 (2004) Downloads
Working Paper: Separating Uncertainty from Heterogeneity in Life Cycle Earnings (2004) Downloads
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