Showing 1 - 10 of 14
We estimate a structural dynamic programming model of schooling decisions and obtain individual specific estimates of the local (and average) returns to schooling as well as the returns to experience. Homogeneity of the returns to human capital is strongly rejected in favor of a discrete...
Persistent link: https://www.econbiz.de/10011401014
Using a dynamic programming model of schooling decisions, we investigate the relationship between subjective discount rates and the labor market ability (the discount rate bias) on a panel taken from the National Longitudinal Survey of Youth (NLSY). Given household human capital and Armed Forces...
Persistent link: https://www.econbiz.de/10011313951
Following the report of the Stiglitz Commission, measuring and comparing well-being across countries has gained renewed interest. Yet, analyses that go beyond income and incorporate non-market dimensions of welfare most often rely on the assumption of identical preferences to avoid the...
Persistent link: https://www.econbiz.de/10009518409
This study examines the extent and influence of occupational licensing in the U.S. using a specially designed national labor force survey. Specifically, we provide new ways of measuring occupational licensing and consider what types of regulatory requirements and what level of government...
Persistent link: https://www.econbiz.de/10009230732
We estimate the monetary return to attending a highly selective college using the College and Beyond (C&B) Survey linked to Detailed Earnings Records from the Social Security Administration (SSA). This paper extends earlier work by Dale and Krueger (2002) that examined the relationship between...
Persistent link: https://www.econbiz.de/10009232448
We estimate a structural dynamic programming model of schooling decisions with unobserved heterogeneity in school ability and market ability on a sample taken from the National Longitudinal Survey of Youth (NLSY). Both the instantaneous utility of attending school and the wage regression...
Persistent link: https://www.econbiz.de/10011411639
We estimate a finite mixture dynamic programming model of schooling decisions in which the log wage regression function is set in a random coefficient framework. The model allows for absolute and comparative advantages in the labor market and assumes that the population is composed of 8 unknown...
Persistent link: https://www.econbiz.de/10011411668
experienced in labor market earnings through wage dispersion and employment rate dispersion. We find a low degree of relative risk … aversion (0.9282) and the estimates indicate that both wage and employment rate dispersions decrease significantly with …
Persistent link: https://www.econbiz.de/10011411833
We estimate a Dynamic Programming model of the decision between continuing schooling or entering the labor market using a panel from the National Longitudinal Survey (NLSY). The model, set in an expected utility framework (with a power utility function), fits data on both schooling attainments...
Persistent link: https://www.econbiz.de/10011295416
Persistent link: https://www.econbiz.de/10001982769