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completement limited public funding for higher education but might also be an alternative to traditional financial assets. Using a …
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This paper assesses the relationship between courses taken in high school and college major choice. It considers individuals as holding a portfolio of relative human capital rates that may either be similar to those in their major - specialized - or different from those in their major -...
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Financial researchers agree that allocating money to employer stock in a 401(k) plan is a poor strategy, yet many employees do so. Not only does this investment strategy bear unrewarded idiosyncratic risk, but it also correlates employees' retirement portfolios with their human capital. I find...
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We introduce a financial portfolio optimization framework that allows us to automatically select the relevant assets and estimate their weights by relying on a sorted L1-Norm penalization, henceforth SLOPE. Our approach is able to group constituents with similar correlation properties, and with...
Persistent link: https://www.econbiz.de/10012900920
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In the traditional human capital framework, education is often considered as an investment, rather than consumption …, while consumption is not necessarily precluded. Whether education is an investment is empirically unclear and relatively … under-explored. We shed light on this issue by estimating the risk-return trade-off in the context of education. If …
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