wages reflect this, with lower pay for greater uncertainty. We use the dispersion of exam grades within a field of education …Firms hiring fresh graduates face uncertainty on the future productivity of workers. Theory suggests that starting … as an indicator of the unobserved heterogeneity that employers face. We find solid evidence that starting wages are lower …

We present a theory of human capital, with its two most essential components, health capital and, what we term, skill … capital, endogenously determined within the model. Using the theory, and a calibrated version of it, we uncover and highlight …

How valuable is education for entrepreneurs’ performance as compared to employees’? What might explain any differences …? And does education affect peoples’ occupational choices accordingly? We answer these questions based on a large panel of … US labor force participants. We show that education affects peoples’ decisions to become an entrepreneur negatively. We …

The perpetual inventory method used for the construction of education data per country leads to systematic measurement … education level between census data and observations constructed from enrolment data. We discuss a methodology for correcting …