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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/10010262274
variances, the non-parametric aspect of the estimation may discourage practitioners from its use. This paper outlines how the …
Persistent link: https://www.econbiz.de/10010269795
After three years in the National Collegiate Athletic Association (NCAA), collegiate football players face a trade-off between spending more time in the NCAA and pursuing a career in the National Football League (NFL) by declaring for the draft. We analyze the starting salaries and signing...
Persistent link: https://www.econbiz.de/10010294892
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/10010262285
This paper utilizes the self-employed to analyze the observed increase in the educational earnings premium in the 1980?s. The paper compares the predictions of the signaling and human capital models in response to an exogenous demand shock such as a skill-biased technological change. Since the...
Persistent link: https://www.econbiz.de/10010262368
After three years in the National Collegiate Athletic Association (NCAA), collegiate football players face a trade-off between spending more time in the NCAA and pursuing a career in the National Football League (NFL) by declaring for the draft. We analyze the starting salaries and signing...
Persistent link: https://www.econbiz.de/10010278517
Persistent link: https://www.econbiz.de/10011475527
This paper develops a multi-period model, in which workers are matched with jobs according to imperfect educational signals and in which their subsequent productivities depend on both their inherent ability and on the quality of the job match. It outlines a sequential process, in which underpaid...
Persistent link: https://www.econbiz.de/10010261976
We estimate a dynamic programming model of schooling decisions in which the degree of risk aversion can be inferred from schooling decisions. In our model, individuals are heterogeneous with respect to school and market abilities but homogeneous with respect to the degree of risk aversion. We...
Persistent link: https://www.econbiz.de/10010262728
This study investigates the relation between human capital depreciation during family-related career interruptions and … family-related career interruptions, we find that short-term human capital depreciation during these career interruptions is … choose female occupations because of lower short-term wage penalties for family-related career interruptions. Moreover, we …
Persistent link: https://www.econbiz.de/10010272973