G2TT
来源类型Discussion paper
规范类型论文
来源IDDP3653
DP3653 Globalization and Democracy
Carl B Hamilton
发表日期2002-11-20
出版年2002
语种英语
摘要We estimate a dynamic programming model of schooling decisions in which the degree of risk aversion can be inferred from schooling decisions. In our model, individuals are heterogeneous with respect to school and market abilities but homogeneous with respect to the degree of risk aversion. We allow endogenous schooling attainments to affect the level of risk experienced in labour market earnings through wage dispersion and employment rate dispersion. We find a low degree of relative risk aversion (0.9282) and find that a counterfactual increase in risk aversion will increase schooling attainments. The estimates indicate that both wage and employment rate dispersions decrease significantly with schooling attainments.
主题Labour Economics
关键词Dynamic programming Returns to education Risk aversion Human capital Earnings dispersion
URLhttps://cepr.org/publications/dp3653
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/532660
推荐引用方式
GB/T 7714
Carl B Hamilton. DP3653 Globalization and Democracy. 2002.
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