Separating uncertainty from heterogeneity in life cycle earnings
By: by Flavio Cunha, James J. Heckman, Salvador Navarro.
Contributors: Heckman, James J.; Navarro, Salvador.
Series: Discussion paper ;; no. 1437; Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) ;; no. 1437
Publisher: IZA
Published: 2004
Place of publication: Bonn, Germany
Language: eng
Format: Electronic resource
Subjects: Wages -- Econometric models.; Wages -- Effect of education on -- Econometric models.; Labor economics -- Econometric models.; College attendance -- Econometric models.; Income -- Econometric models.
Description: "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"--Forschungsinstitut zur Zukunft der Arbeit web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 4/12/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.