In this empirical paper, I use the 1996 wave of the ECHP dataset to investigate the relationship between measures of wage compression and training incidence in 11 European countries. I find that, after controlling for individual factors and country specific institutional differences, there is...

This paper investigates the relationship between education and training provided by the firm, both on the job and off the job, using a unique dataset based on a survey of Thai employees conducted in the summer of 2001. We find a significant and negative relationship between educational...

We study the relationship between (log) current earnings and educational levels in Italy. In line with other international evidence, we find that OLS under-estimate the marginal return to additional education. When the endogeneity of educational choice is taken into account, the marginal return...

The purpose of this paper is to provide an update of the empirical evidence on the private returns to education in Italy. First, we show that, whilst returns to education in Italy (based on gross wages) are in line with the European average, educational attainment is generally much lower...

Individual absolute risk aversion is measured for a sample of 1373 male household heads, using the 1995 wave of the Survey on the Income and Wealth of Italian households. This measure, conditional on financial and real wealth and household income, is used as an instrument for attained education...

This paper is an empirical investigation of the complementarity between education and training in 13 European countries, based on the European Community Household Panel (ECHP). After confirming the standard result that training incidence is higher among individuals with more education, I find...

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...

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...

This paper studies how schooling admission tests affect economic performance in an economy where individuals are endowed with both academic and non academic abilities and both abilities matter for labour productivity. We develop a simple model with selective government held schools, where...

There is no robust empirical support for the effect of financial incentives on the decision to work in selfemploymentrather than as a wage earner. In the literature, this is seen as a puzzle. We offer a focus on theopportunity cost, i.e. the wages given up as an employee. Information on income...