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An Empirical Analysis of the Risk Properties of Human Capital Returns

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Cited by:

  1. Belzil, Christian & Leonardi, Marco, 2007. "Can risk aversion explain schooling attainments? Evidence from Italy," Labour Economics, Elsevier, vol. 14(6), pages 957-970, December.
  2. Grossmann, Volker, 2008. "Risky human capital investment, income distribution, and macroeconomic dynamics," Journal of Macroeconomics, Elsevier, vol. 30(1), pages 19-42, March.
  3. Christian Belzil & Marco Leonardi, 2013. "Risk Aversion and Schooling Decisions," Annals of Economics and Statistics, GENES, issue 111-112, pages 35-70.
  4. Melnikov, Roman, 2018. "Evaluation of economic consequences of the choice of educational field in modern Russian conditions," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 49, pages 30-56.
  5. Julian di Giovanni & Akito Matsumoto, 2011. "The Value of Human Capital Wealth," Global COE Hi-Stat Discussion Paper Series gd10-174, Institute of Economic Research, Hitotsubashi University.
  6. Simone N. Tuor & Uschi Backes‐Gellner, 2010. "Risk‐return trade‐offs to different educational paths: vocational, academic and mixed," International Journal of Manpower, Emerald Group Publishing Limited, vol. 31(5), pages 495-519, August.
  7. Angel de la Fuente & Juan Francisco Jimeno, 2004. "The private and fiscal returns to schooling and the effect of public policies on private incentives to invest in education: a general framework and some results for the EU," UFAE and IAE Working Papers 635.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  8. Hanno Lustig & Stijn Van Nieuwerburgh, 2008. "The Returns on Human Capital: Good News on Wall Street is Bad News on Main Street," The Review of Financial Studies, Society for Financial Studies, vol. 21(5), pages 2097-2137, September.
  9. DAVIA, Maria A. & McGUINNESS, Seamus & O’CONNELL, Philip J., 2014. "Exploring The Role Of Labour Market Uncertainty In Explaining Differences In Rates Of Return To Education In Europe," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 14(3), pages 89-104.
  10. Fugazza, Carolina & Giofré, Maela & Nicodano, Giovanna, 2011. "International diversification and industry-related labor income risk," International Review of Economics & Finance, Elsevier, vol. 20(4), pages 764-783, October.
  11. Mark Huggett and Greg Kaplan, 2012. "The Money Value of a Man," Working Papers gueconwpa~12-12-02, Georgetown University, Department of Economics.
  12. Checchi, Daniele & Fiorio, Carlo V. & Leonardi, Marco, 2014. "Parents' risk aversion and children's educational attainment," Labour Economics, Elsevier, vol. 30(C), pages 164-175.
  13. Luc Arrondel & Hector Calvo Pardo & Xisco Oliver, 2010. "Temperance in Stock Market Participation: Evidence from France," Economica, London School of Economics and Political Science, vol. 77(306), pages 314-333, April.
  14. Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2015. "Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation," American Economic Review, American Economic Association, vol. 105(11), pages 3443-3470, November.
  15. Quiroga, Sonia & Iglesias, Ana, 2009. "A comparison of the climate risks of cereal, citrus, grapevine and olive production in Spain," Agricultural Systems, Elsevier, vol. 101(1-2), pages 91-100, June.
  16. Luc Arrondel & Hector Calvo Pardo & Xisco Oliver, 2007. "Temperant portfolio choice and background risk: evidence from France," Working Papers halshs-00588069, HAL.
  17. Aoki, Kosuke & Nakajima, Tomoyuki & Nikolov, Kalin, 2014. "Safe asset shortages and asset price bubbles," Journal of Mathematical Economics, Elsevier, vol. 53(C), pages 164-174.
  18. Grochulski, Borys & Piskorski, Tomasz, 2010. "Risky human capital and deferred capital income taxation," Journal of Economic Theory, Elsevier, vol. 145(3), pages 908-943, May.
  19. Kässi, Otto, 2014. "How Risky Is the Choice of a University Major?," MPRA Paper 59078, University Library of Munich, Germany.
  20. Leif Danziger & Eliakim Katz, 2019. "Compensation in Personal Injury Cases: Mean or Median Income?," CESifo Working Paper Series 7748, CESifo.
  21. Stacey Chen, 2003. "Does COllege Attendance Increase Wage Volatility," Discussion Papers 03-01, University at Albany, SUNY, Department of Economics.
  22. Arellano-Bover, Jaime & Saltiel, Fernando, 2021. "Differences in On-the-Job Learning across Firms," IZA Discussion Papers 14473, Institute of Labor Economics (IZA).
  23. Alexander Whalley, 2004. "Black-White Differences in the Insurance Value of Human Capital," Econometric Society 2004 North American Summer Meetings 575, Econometric Society.
  24. Sylvain, Serginio, 2014. "Does Human Capital Risk Explain The Value Premium Puzzle?," MPRA Paper 54551, University Library of Munich, Germany.
  25. Antonios Athanassiadis, 2011. "Economic Returns and Risks to Investment in Education: An Application of the Multifactor CAPM," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 4(1), pages 95-120, March.
  26. Joop Hartog & Luis Diaz-Serrano, 2015. "Why Do We Ignore the Risk in Schooling Decisions?," De Economist, Springer, vol. 163(2), pages 125-153, June.
  27. Gary-Bobo, Robert J. & Brodaty, Thomas & Prieto, Ana, 2006. "Risk Aversion and Human Capital Investment: A Structural Econometric Model," CEPR Discussion Papers 5694, C.E.P.R. Discussion Papers.
  28. Dickson, Matt & Harmon, Colm, 2011. "Economic returns to education: What We Know, What We Don’t Know, and Where We Are Going—Some brief pointers," Economics of Education Review, Elsevier, vol. 30(6), pages 1118-1122.
  29. Jacobs, Bas, 2007. "Real options and human capital investment," Labour Economics, Elsevier, vol. 14(6), pages 913-925, December.
  30. Leif Danziger & Eliakim Katz, 2017. "Compensation for Loss of Work Income in Personal Injury Cases," CESifo Working Paper Series 6570, CESifo.
  31. Borys Grochulski & Tomasz Piskorski, 2005. "Optimal wealth taxes with risky human capital," Working Paper 05-13, Federal Reserve Bank of Richmond.
  32. Brodaty, Thomas & Gary-Bobo, Robert J. & Prieto, Ana, 2014. "Do risk aversion and wages explain educational choices?," Journal of Public Economics, Elsevier, vol. 117(C), pages 125-148.
  33. Singh, Aarti, 2010. "Human capital risk in life-cycle economies," Journal of Monetary Economics, Elsevier, vol. 57(6), pages 729-738, September.
  34. John Y. Campbell, 2006. "Household Finance," Journal of Finance, American Finance Association, vol. 61(4), pages 1553-1604, August.
  35. Gregorio Caetano & Miguel Palacios & Harry A. Patrinos, 2019. "Measuring Aversion to Debt: An Experiment Among Student Loan Candidates," Journal of Family and Economic Issues, Springer, vol. 40(1), pages 117-131, March.
  36. Dirk Schindler & Hongyan Yang, 2010. "Catalysts for Social Insurance: Education Subsidies vs. Real Capital Taxation," CESifo Working Paper Series 3278, CESifo.
  37. Angela Cipollone, 2011. "Education as a Precautionary Asset," Working Papers CELEG 1108, Dipartimento di Economia e Finanza, LUISS Guido Carli.
  38. Luis Diaz‐Serrano & Joop Hartog & Helena Skyt Nielsen, 2008. "Compensating Wage Differentials for Schooling Risk in Denmark," Scandinavian Journal of Economics, Wiley Blackwell, vol. 110(4), pages 711-731, December.
  39. Peñaranda, Francisco & Sentana, Enrique, 2012. "Spanning tests in return and stochastic discount factor mean–variance frontiers: A unifying approach," Journal of Econometrics, Elsevier, vol. 170(2), pages 303-324.
  40. Daniel J. Henderson & Andrew Houtenville & Le Wang, 2017. "The Distribution of Returns to Education for People with Disabilities," Journal of Labor Research, Springer, vol. 38(3), pages 261-282, September.
  41. Dinda, Soumyananda, 2015. "Return on Universal Education: SSA Case Study on Bihar," MPRA Paper 64831, University Library of Munich, Germany, revised 06 Jun 2015.
  42. Glocker, Daniela & Storck, Johanna, 2014. "Risks and returns to educational fields – A financial asset approach to vocational and academic education," Economics of Education Review, Elsevier, vol. 42(C), pages 109-129.
  43. Berkhout, Peter & Hartog, Joop & Webbink, Dinand, 2006. "Compensation for Earnings Risk under Worker Heterogeneity," IZA Discussion Papers 2074, Institute of Labor Economics (IZA).
  44. Stijn Van Nieuwerburgh & Hanno Lustig, 2005. "The Returns on Human Wealth: Good News on Wall Street is Bad News on Main Street," 2005 Meeting Papers 105, Society for Economic Dynamics.
  45. Christiansen, Charlotte & Joensen, Juanna Schroter & Nielsen, Helena Skyt, 2007. "The risk-return trade-off in human capital investment," Labour Economics, Elsevier, vol. 14(6), pages 971-986, December.
  46. Whalley, Alexander, 2011. "Education and labor market risk: Understanding the role of data cleaning," Economics of Education Review, Elsevier, vol. 30(3), pages 528-545, June.
  47. Yena Park, 2014. "Constrained Efficiency in a Risky Human Capital Model," RCER Working Papers 585, University of Rochester - Center for Economic Research (RCER).
  48. Dirk Schindler & Hongyan Yang, 2010. "Catalyzers for Social Insurance: Education Subsidies vs. Real Capital Taxation," Working Paper Series of the Department of Economics, University of Konstanz 2010-05, Department of Economics, University of Konstanz.
  49. Dirk Schindler & Benjamin Weigert, 2011. "Shutting the Stable Door after the Horse Has Bolted? On Educational Risk and the Quality of Education," CESifo Working Paper Series 3436, CESifo.
  50. Les Coleman, 2011. "Losses from Failure of Stakeholder Sensitive Processes: Financial Consequences for Large US Companies from Breakdowns in Product, Environmental, and Accounting Standards," Journal of Business Ethics, Springer, vol. 98(2), pages 247-258, January.
  51. Chih-Chin Ho & Ching-Yang Lin & Cheng-Tao Tang, 2013. "How Do Income and Bequest Taxes Affect Income Inequality? The Role of Parental Transfers," Working Papers EMS_2013_10, Research Institute, International University of Japan.
  52. Kässi, Otto, 2012. "Uncertainty and Heterogeneity in Returns to Education: Evidence from Finland," MPRA Paper 48738, University Library of Munich, Germany, revised 01 Aug 2013.
  53. Marco Leonardi, 2007. "Do Parents Risk Aversion and Wealth Explalin Secondary School Choice?," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 66(2), pages 177-206, July.
  54. Luca Benzoni & Olena Chyruk, 2013. "Human Capital and Long-Run Labor Income Risk," Working Paper Series WP-2013-16, Federal Reserve Bank of Chicago.
  55. Anna V. Tikhonova, 2023. "Development of Tax Incentives for Investments in Human Capital," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 1, pages 116-133, February.
  56. Hou, Linke & Wang, Xiaobing & Yu, Xiaohua, 2011. "Rational Expectation and Education Rewarding: The Case of Chinese Off-Farm Wage Employment," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114530, European Association of Agricultural Economists.
  57. Luca Benzon & Olena Chyruk, 2015. "The Value and Risk of Human Capital," Annual Review of Financial Economics, Annual Reviews, vol. 7(1), pages 179-200, December.
  58. Daniel J. Henderson & Anne-Charlotte Souto & Le Wang, 2020. "Higher-Order Risk–Returns to Education," JRFM, MDPI, vol. 13(11), pages 1-25, October.
  59. Arrondel, Luc & Calvo-Pardo, Hector, 2014. "Endogenous non-tradable earnings and households’ demand for risky assets," Discussion Paper Series In Economics And Econometrics 1414, Economics Division, School of Social Sciences, University of Southampton.
  60. Leif Danziger & Eliakim Katz, 2019. "Compensation in personal injury cases: mean or median income?," European Journal of Law and Economics, Springer, vol. 48(2), pages 291-303, October.
  61. Miguel Palacios, 2010. "Human Capital as an Asset Class: Implications from a General Equilibrium Model," Working Papers 2011-016, Human Capital and Economic Opportunity Working Group.
  62. Huang, Pinghsun & Huang, Hsin-Yi & Zhang, Yan, 2019. "Do firms hedge with foreign currency derivatives for employees?," Journal of Financial Economics, Elsevier, vol. 133(2), pages 418-440.
  63. Dinda, Soumyananda, 2015. "A Note on DD Approach," MPRA Paper 63949, University Library of Munich, Germany.
  64. Maria De Paola & Francesca Gioia, 2011. "Risk Aversion And Major Choice: Evidence From Italian Students," Working Papers 201107, Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF.
  65. Paolo Buonanno & Dario Pozzoli, 2007. "Risk Aversion and College Subject," Working Papers (-2012) 0707, University of Bergamo, Department of Economics.
  66. Sarah Brown & Karl Taylor, 2006. "Education, Risk Preference and Wages," Working Papers 2006002, The University of Sheffield, Department of Economics, revised Feb 2006.
  67. Dirk Schindler & Hongyan Yang, 2015. "Catalysts for social insurance: education subsidies versus physical capital taxation," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 22(2), pages 274-310, April.
  68. OBARA, Takuya, 2018. "Optimal human capital policies under the endogenous choice of educational types," CCES Discussion Paper Series 66_v2, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.
  69. Bas Jacobs & Dirk Schindler & Hongyan Yang, 2012. "Optimal Taxation of Risky Human Capital," Scandinavian Journal of Economics, Wiley Blackwell, vol. 114(3), pages 908-931, September.
  70. Danziger, Leif & Katz, Eliakim, 2019. "Compensation in Personal Injury Cases: Mean or Median Income?," IZA Discussion Papers 12466, Institute of Labor Economics (IZA).
  71. Simon Reinwald & Silvia Annen, 2023. "Influence of Gender and Prior Education Intersectionality on Further Education Investments and Job Satisfaction," SAGE Open, , vol. 13(2), pages 21582440231, June.
  72. Ellen R. McGrattan, 2010. "Comment on Christian’s “Human Capital Accounting in the United States: 1994–2006”," Staff Report 447, Federal Reserve Bank of Minneapolis.
  73. Joop Hartog & Hans Van Ophem & Simona Maria Bajdechi, 2007. "Simulating the Risk of Investment in Human Capital," Education Economics, Taylor & Francis Journals, vol. 15(3), pages 259-275.
  74. Ren, Yu & Yuan, Yufei & Zhang, Yang, 2014. "Human capital, household capital and asset returns," Journal of Banking & Finance, Elsevier, vol. 42(C), pages 11-22.
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