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throughout their lives, parents' initial skills and skill growth rates are equally important determinants of children's skills … lower for children born to younger fathers … transmission of these factors explains up to 40% of children's skill variation. Skills become a more important determinant of …
Persistent link: https://www.econbiz.de/10012482360
We consider a general framework to study the evolution of wage and earnings residuals that incorporates features highlighted by two influential but distinct literatures in economics: (i) unobserved skills with changing non-linear pricing functions and (ii) idiosyncratic shocks with both...
Persistent link: https://www.econbiz.de/10012458596
This paper presents economic models of child development that capture the essence of recent findings from the empirical literature on skill formation. The goal of this essay is to provide a theoretical framework for interpreting the evidence from a vast empirical literature, for guiding the next...
Persistent link: https://www.econbiz.de/10012467352