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Why Do We Ignore the Risk in Schooling Decisions?
Hartog, Joop; Diaz-Serrano, Luis - CESifo - 2014
While uncertainty abounds in almost any decision on investment in schooling, it is mostly ignored in research and virtually absent in labour economics text books. This paper documents the scope for risk, discusses the tough disentanglement of heterogeneity and risk, surveys the analytical...
Persistent link: https://www.econbiz.de/10010877976
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Measuring the Consumption Value of Higher Education
Alstadsæter, Annette - CESifo - 2009
This paper argues that the consumption value of education is an important motivation for the educational choice. While controlling for ability, we document that individuals are willing to forego substantial future wage returns in order to acquire a particular type of higher education. We...
Persistent link: https://www.econbiz.de/10008533984
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The Consumption Value of Higher Education
Alstadsæter, Annette; Sievertsen, Hans Henrik - CESifo - 2009
The consumption value of higher education is an important factor behind the individual’s educational choice. We provide a comprehensive literature survey, and define the consumption value as the private, intended, non-pecuniary return to higher education. We provide new empirical evidence for...
Persistent link: https://www.econbiz.de/10008534058
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Central School Exit Exams and Labor-Market Outcomes
Piopiunik, Marc; Schwerdt, Guido; Woessmann, Ludger - CESifo - 2012
positive effects of central exams on achievement tests, previous research on university-bound students shows no effects on … subsequent earnings. We suggest that labor-market effects may be more imminent for students leaving school directly for the labor … that central exams are indeed associated with higher earnings for students from school types directly bound for the labor …
Persistent link: https://www.econbiz.de/10010691259
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Scars of Recessions in a Rigid Labor Market
Cockx, Bart; Ghirelli, Corinna - CESifo - 2015
time and earnings by about 4.5% up to twelve years after graduation. For the high educated, the working time is not … persistently affected, but the penalty on the hourly wage (and earnings) increases with experience, and attains roughly -6% ten …
Persistent link: https://www.econbiz.de/10011200048
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College Expansion and Curriculum Choice
Kaganovich, Michael; Su, Xuejuan - CESifo - 2015
model offers an explanation to two sets of empirical phenomena: (i) the observed U-shaped earnings growth profile among …
Persistent link: https://www.econbiz.de/10011257677
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The Return to College: Selection Bias and Dropout Risk
Hendricks, Lutz; Leukhina, Oksana - CESifo - 2014
This paper estimates the effect of graduating from college on lifetime earnings. Motivated by the fact that nearly half … accounts for nearly half of the college lifetime earnings premium. …
Persistent link: https://www.econbiz.de/10010757731
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How Risky is College Investment?
Hendricks, Lutz; Leukhina, Oksana - CESifo - 2015
This paper is motivated by the fact that nearly half of U.S. college students drop out without earning a bachelor’s degree. Its objective is to quantify how much uncertainty college entrants face about their graduation outcomes. To do so, we develop a quantitative model of college choice. The...
Persistent link: https://www.econbiz.de/10011165502
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Performance of Young Adults: The Importance of Different Skills
Falch, Torberg; Nyhus, Ole Henning; Strøm, Bjarne - CESifo - 2013
This paper uses teacher assessments at age 16 in Norwegian comprehensive schools to measure different types of skills. While we follow the literature and interpret test scores in Mathematics and Science as proxy for cognitive skills, we use a novel measure for another type of skills: Performance...
Persistent link: https://www.econbiz.de/10010627556
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Overeducation at the Start of the Career - Stepping Stone or Trap?
Baert, Stijn; Cockx, Bart; Verhaest, Dieter - CESifo - 2012
This study investigates whether young unemployed graduates who accept a job below their level of education accelerate or delay the transition into a job that matches their level of education. We adopt the Timing of Events approach to identify this dynamic treatment effect using monthly calendar...
Persistent link: https://www.econbiz.de/10010550834