| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14310 |
| DP14310 K-Returns to Education | |
| Luigi Guiso; Luigi Pistaferri; Andreas Fagereng; Martin Blomhoff Holm | |
| 发表日期 | 2020-01-14 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Abstract We exploit a school reform that increased the length of compulsory schooling in Norway in the 1960s to study the causal effect of formal general education on returns on wealth (k-returns). OLS estimates reveal a strong, positive and statistically significant correlation between education and returns on individual net worth. This effect disappears in IV regressions, implying that general education has no causal effect on individual performance in capital markets, whose heterogeneity largely reflects non-acquired ability. On the contrary, we find that education causes higher returns in the labor market (l-returns). We speculate about possible rationales for this important asymmetry. |
| 主题 | Financial Economics ; Labour Economics |
| 关键词 | Returns to education Returns to capital |
| URL | https://cepr.org/publications/dp14310 |
| 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/543202 |
| 推荐引用方式 GB/T 7714 | Luigi Guiso,Luigi Pistaferri,Andreas Fagereng,et al. DP14310 K-Returns to Education. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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