In this Paper, we develop a structural model for the job search behaviour of students entering the labour market. The model includes endogenous search effort and on-the-job searches. Since students usually do not start a regular job before graduation but start job searches earlier, our model is...

The risk of investment in schooling has largely been ignored. We assess the variance in the rate of return by surveying the international empirical literature from this fresh perspective and by simulating risky earnings profiles in alternative options, choosing parameters on basis of the very...