Arbeitspapier
Earnings Risk and Demand for Higher Education: A Cross-Section Test for Spain
We develop a simple human capital model for optimum schooling length when earnings are stochastic, and highlight the pivotal role of risk attitudes and the schooling gradient of earnings risk. We use Spanish data to document the gradient and to estimate individual response to earnings risk in deciding on attending university education, by measuring risk as the residual variance in regional earnings functions. We find that the basic response is negative but that in households with lower risk aversion, the response may be reversed to positive.
- Language
-
Englisch
- Bibliographic citation
-
Series: IZA Discussion Papers ; No. 641
- Classification
-
Wirtschaft
Analysis of Education
- Subject
-
earnings risk
schooling decisions
Bildungsverhalten
Studium
Verdienstausfall
Einkommen
Risiko
Schätzung
Spanien
- Event
-
Geistige Schöpfung
- (who)
-
Hartog, Joop
Serrano, Luis Diaz
- Event
-
Veröffentlichung
- (who)
-
Institute for the Study of Labor (IZA)
- (where)
-
Bonn
- (when)
-
2002
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Hartog, Joop
- Serrano, Luis Diaz
- Institute for the Study of Labor (IZA)
Time of origin
- 2002
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