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We combine two empirical observations in a general equilibrium occupational choice model. The first is that entrepreneurs have more control than employees over the employment of and accruals from assets, such as human capital. The second observation is that entrepreneurs enjoy higher returns to...
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,workers' remuneration depends on their individual productivity, which is itself a function ofexperience, education and skill levels, and …
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The authors adopt the Five-Factor Model of personality structure to explore how personalityaffected the earnings of a large group of men and women who graduated from Wisconsin highschools in 1957 and were re-interviewed in 1992. All five basic traits–extroversion,...
Persistent link: https://www.econbiz.de/10010325321
Estimates of the effect of education on GDP (the social return) have been hard to reconcile with micro evidence on the … of education reduces the private return by 2 percentage points, consistent with Katz-Murphy's (1992) elasticity of …
Persistent link: https://www.econbiz.de/10010324788
We apply a recently proposed method to disentangle unobserved heterogeneity from risk in returns to education. We … college education cannot universally be considered an insurance against unpredictability of wages. One conclusion is …
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