cannot exist a generally acceptable "optimal" age to sample earnings for IV estimation. The practical example developed in …

-cycle wage growth of U.S. white males into four main sources: education, hours worked, cognitive skills (AFQT scores) and … individual differences in hours worked and education explain the remaining part almost equally. We show how our model is a … education. Finally, because policy changes induce simultaneous movements in observed choices and average per-year effects …

I perform the joint estimation of a reduced-form dynamic model of the transition from one grade level to the next, and … idiosyncratic wage shock is reduced by obtaining higher education …

the macro literature on education and growth. The fraction of the population more efficient at producing skills in the …) effect education on growth measured in the empirical literature …

to estimation is more flexible. More precisely, I show that structural and IV approaches differ mainly at the level of i …

300 of the largest corporations in the U.S. in the period from 1981 to 1988. The estimation conditions on unobserved …

risk aversion on the probability of entering higher education. This allows us to characterize the subjective (as opposed to … the objective) effect of higher education on marginal risk exposure. Because the measure of risk aversion (the classical … (comparable to parents' educational background) of the decisions to enter higher education. Precisely, risk aversion acts as a …

permanent endowments as well as on education. We find evidence of statistically significant complementarity, i.e. the higher …