, education specific productivity shocks, and catastrophic consumption events, while bankruptcy is governed by the basic … importance of the two chapters (7 and 13) for each of our two education groups that differ in both preferences and wage profiles …

To our knowledge, this paper provides the first study evaluating the effects of higher education for adults on the … education in 1992–1993. Our sample is aged 42–55 at the time of enrollment and thus aged 60–73 in 2010. We find that higher … education increases labor market survival rates when aged 61–66 by about 5 percentage points. The estimates represent relatively …