This paper uses unit record data from the 1985 Australian Longitudinal Survey to review the major features of the youth labor market. Education plays an important role in determining the incidence of unemployment, wages, hours of work, and access to training opportunities. The probability of...

Human capital earnings functions typically explain a small fraction of the total variation in earnings. The considerable uncertainty associated with expected future earnings streams enhances the desirability of a loans scheme for higher education possessing income contingent characteristics on...