This study derives labor-income-based measures of human capital returns diretly from the Euler equilibrium equations, and uses them (i) to evaluate the pricing of human capital assets and compare their pricing implications across individuals with different demographic characteristics, and (ii) to compare the asset pricing implications of human capital returns and financial returns.
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Publisher Info
Paper provided by Stanford - Hoover Institution in its series Papers with number
e-97-3.
Length: 41 pages Date of creation: 1997 Date of revision: Handle: RePEc:fth:stanho:e-97-3
Contact details of provider: Postal: STANFORD UNIVERSITY, HOOVER INSTITUTION, DOMESTIC STUDIES PROGRAM,DEPARTMENT OF ECONOMICS, STANFORD CALIFORNIA 94305 U.S.A. Phone: 650-723-1754 Fax: 650-723-1687 Email: Web page: http://www.hoover.org/ More information through EDIRC
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