Educational Attainment and the Changing U.S. Wage Structure: Dynamic Implications on Young Individuals' Choices
AbstractWe present a dynamic model of individuals' educational investments that allows us to explore alternative modeling strategies for forecasting future wage distributions. The key innovation we propose is an approach to forecasting that relies only on the information that would be available at the actual time decisions are made and which incorporates the role of parameter uncertainty into the decision-making process. We compare the performance of our method with alternative models of forecasting behavior, based on CPS data over the period 1964-2004. (c) 2010 by The University of Chicago. All rights reserved..
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Labor Economics.
Volume (Year): 28 (2010)
Issue (Month): 3 (07)
Contact details of provider:
Web page: http://www.journals.uchicago.edu/JOLE/
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Basit Zafar, 2011.
"Can subjective expectations data be used in choice models? evidence on cognitive biases,"
Journal of Applied Econometrics,
John Wiley & Sons, Ltd., vol. 26(3), pages 520-544, 04.
- Basit Zafar, 2010. "Can subjective expectations data be used in choice models? Evidence on cognitive biases," Staff Reports 454, Federal Reserve Bank of New York.
- Courtioux, Pierre & Gregoir, Stéphane & Houeto, Dede, 2014. "Modelling the distribution of returns on higher education: A microsimulation approach," Economic Modelling, Elsevier, vol. 38(C), pages 328-340.
- Beffy, Magali & Fougère, Denis & Maurel, Arnaud, 2009.
"Choosing the Field of Study in Post-Secondary Education: Do Expected Earnings Matter?,"
IZA Discussion Papers
4127, Institute for the Study of Labor (IZA).
- Magali Beffy & Denis Fougère & Arnaud Maurel, 2012. "Choosing the Field of Study in Postsecondary Education: Do Expected Earnings Matter?," The Review of Economics and Statistics, MIT Press, vol. 94(1), pages 334-347, February.
- Magali BEFFY & Denis FOUGERE & Arnaud MAUREL, 2009. "Choosing the Field of Study in Post-Secondary Education : Do Expected Earnings Matter ?," Working Papers 2009-14, Centre de Recherche en Economie et Statistique.
- Michelle L. Barnes & Anthony W. Hughes, 2002. "A quantile regression analysis of the cross section of stock market returns," Working Papers 02-2, Federal Reserve Bank of Boston.
- James J. Heckman & Lance J. Lochner & Petra E. Todd, 2005.
"Earnings Functions, Rates of Return and Treatment Effects: The Mincer Equation and Beyond,"
NBER Working Papers
11544, National Bureau of Economic Research, Inc.
- Heckman, James J. & Lochner, Lance J. & Todd, Petra E., 2006. "Earnings Functions, Rates of Return and Treatment Effects: The Mincer Equation and Beyond," Handbook of the Economics of Education, Elsevier.
- Heckman, James J. & Lochner, Lance & Todd, Petra E., 2005. "Earnings Functions, Rates of Return and Treatment Effects: The Mincer Equation and Beyond," IZA Discussion Papers 1700, Institute for the Study of Labor (IZA).
- Stacey H. Chen, 2003. "Risk Aversion and College Attendance," Discussion Papers 03-03, University at Albany, SUNY, Department of Economics.
- Alexander Whalley, 2004. "Black-White Differences in the Insurance Value of Human Capital," Econometric Society 2004 North American Summer Meetings 575, Econometric Society.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Journals Division).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.