| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3653 |
| 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 |
| URL | https://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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