Arbeitspapier
How risky is investment in human capital?
The risk of investment in schooling has largely been ignored. We assess the variance in the rate of return by surveying the international empirical literature from this fresh perspective and by simulating risky earnings profiles in alternative options, choosing parameters on basis of the very limited evidence. The distribution of rates of return appears positively skewed. Our best guess of ex ante risk in university education is a coefficient of variation of about 0.3, comparable to that in a randomly selected financial portfolio with some 30 stocks. Allowing for stochastic components in earnings also markedly affects expected returns.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 1261
- Klassifikation
-
Wirtschaft
- Thema
-
education
return
earnings dispersion
risk
Bildungsinvestition
Bildungsertrag
Risiko
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hartog, Joop
van Ophem, Hans
Bajdechi, Simona Maria
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2004
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Hartog, Joop
- van Ophem, Hans
- Bajdechi, Simona Maria
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2004
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