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

The risk of investment in schooling has largely been ignored. We assess thevariance in the rate of return by surveying the international empirical literature from this freshperspective and by simulating risky earnings profiles in alternative options. choosingparameters on basis of the very...