We estimate a finite mixture dynamic programming model of schooling decisions in which the log wage regression function is set in a random coefficient framework. The model allows for absolute and comparative advantages in the labor market and assumes that the population is composed of 8 unknown...

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...

We estimate a finite mixture dynamic programming model of schooling decisions in which the log wage regression function is set in a random coefficient framework. We also analyze the determinants of 3 counterfactual experiments (a college attendance subsidy, a high school graduation subsidy and...

Using unique Italian panel data, in which individual differences in behavior toward risk are measured from answers to a lottery question, we investigate if (and to what extent) risk aversion can explain differences in schooling attainments. We formulate the schooling decision process as a...

We estimate a exible dynamic model of education choices and early ca- reer employment outcomes of the French population. Individuals are allowed to choose between 4 options: continue to the next grade, accept a perma- nent contract, accept a temporary contract, or withdraw from the labor force...

A nonstationary model of individual labor market histories, where the distribution of wages offers depends on elapsed unemployment duration and where unemployment compensation is claimed for a limited period only, is estimated from sample information on completed unemployment duration, accepted...

Using event history data, this paper analyzes the distribution of reemployment spell durations conditional on the completed length of the preceding (contiguous) spell of unemployment. The model is used to infer how unemployment insurance, through unemployment duration, may affect the likelihood...

We estimate a finite mixture dynamic programming model of schooling decisions in which the log wage regression function is set within a correlated random coefficient model and we use the structural estimates to perform counterfactual experiments. We show that the estimates of the dynamic...