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Earnings dispersion, risk aversion and eduation

Belzil, Christian; Hansen, Jörgen - 2002

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/10011411833

Subjective discount rates, intergenerational transfers and the return to schooling

Belzil, Christian; Hansen, Jörgen - 1999

into a 1% productivity (wage) growth. …

Persistent link: https://www.econbiz.de/10011313951

Household characteristics, ability and education : evidence from a dynamic expected utility model

Belzil, Christian; Hansen, Jörgen - 1999

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

How the earnings growth of U.S. immigrants was underestimated

Duleep, Harriet Orcutt; Liu, Xingfei; Regets, Mark C. - 2021

immigrant men following the 1965 Immigration and Nationality Act have low initial earnings and high earnings growth. Another … asserts that post-1965 immigrants have low initial earnings and low earnings growth. We describe the methodological issues … that create this divide and show that low earnings growth becomes high earnings growth when immigrants are followed from …

Persistent link: https://www.econbiz.de/10012500969

Country of origin, earnings convergence, and human capital investment : a new method for the analysis of U.S. immigrant economic assimilation

Duleep, Harriet Orcutt; Liu, Xingfei; Regets, Mark C. - 2018

inverse relationship between initial earnings and earnings growth rates: the good fit between data and theory suggests that … earnings growth of post-1965 U.S. immigrants. When both functional-form and sample-selection constraints are lifted, a …

Persistent link: https://www.econbiz.de/10012130585

Heterogeneous returns to human capital and dynamic self-selection

Belzil, Christian; Hansen, Jörgen - 2001

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...