全球智库信息集成服务系统(G2TT): The Money Value of a Man

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w18066
来源ID	Working Paper 18066
	The Money Value of a Man
	Mark Huggett; Greg Kaplan
发表日期	2012-05-10
出版年	2012
语种	英语
摘要	This paper posits a notion of the value of an individual's human capital and the associated return on human capital. These concepts are examined using U.S. data on male earnings and financial asset returns. We find that (1) the value of human capital is far below the value implied by discounting earnings at the risk-free rate, (2) mean human capital returns exceed stock returns early in life and decline with age, (3) the stock component of the value of human capital is smaller than the bond component at all ages and (4) human capital returns and stock returns have a small positive correlation over the working lifetime.
主题	Microeconomics ; Behavioral Economics ; Macroeconomics ; Consumption and Investment ; Financial Economics ; Portfolio Selection and Asset Pricing ; Labor Economics ; Labor Supply and Demand
URL	https://www.nber.org/papers/w18066
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/575742
推荐引用方式 GB/T 7714	Mark Huggett,Greg Kaplan. The Money Value of a Man. 2012.