Separating uncertainty from heterogeneity in life cycle earnings
By: Flavio Cunha, James J. Heckman, Salvador Navarro.
Contributors: Heckman, James J.; Navarro, Salvador.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 11024; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 11024.
Publisher: National Bureau of Economic Research
Published: 2005
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Wages -- Mathematical models.; Wages -- Effect of education on -- Mathematical models.; Uncertainty -- Mathematical models.; Labor economics -- Mathematical 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"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 1/25/2005.
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Mode of access: World Wide Web.