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Age-Dependent Skill Formation and Returns to Education: Simulation Based Evidence

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Author Info

  • Pfeiffer, Friedhelm

    ()
    (ZEW Mannheim)

  • Reuss, Karsten

    ()
    (ZEW Mannheim)

Abstract

This study integrates findings from neurobiology and psychology on early childhood development and self-regulation to assess returns to education. Our framework for evaluating the distribution of age-specific returns to investments in cognitive and noncognitive skills is a lifecycle simulation model based on the technology of skill formation (Cunha and Heckman (2007)). Our findings illustrate the cumulative and synergetic nature of skill formation, the skill multiplier, and the shaping role early childhood has for human capital formation, growth and inequality.

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File URL: http://ftp.iza.org/dp2882.pdf
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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 2882.

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Length: 31 pages
Date of creation: Jun 2007
Date of revision:
Publication status: published in: Labour Economics, 2008, 15 (4), 631-646
Handle: RePEc:iza:izadps:dp2882

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Related research

Keywords: life span; human capital; self-regulation; intelligence; returns to education;

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References

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  1. Pfeiffer, Friedhelm & Reuß, Karsten, 2007. "Age-dependent Skill Formation and Returns to Education," ZEW Discussion Papers 07-015, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  2. Daron Acemoglu, 2002. "Technical Change, Inequality, and the Labor Market," Journal of Economic Literature, American Economic Association, vol. 40(1), pages 7-72, March.
  3. Cunha, Flavio & Heckman, James J., 2007. "The Technology of Skill Formation," IZA Discussion Papers 2550, Institute for the Study of Labor (IZA).
  4. Johannes Gernandt & Friedhelm Pfeiffer, 2007. "Rising Wage Inequality in Germany," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 227(4), pages 358-380, August.
  5. Cunha, Flavio & Heckman, James J. & Lochner, Lance, 2006. "Interpreting the Evidence on Life Cycle Skill Formation," Handbook of the Economics of Education, Elsevier.
  6. repec:rus:hsesoc:316558 is not listed on IDEAS
  7. James J. Heckman, 2000. "Policies to Foster Human Capital," JCPR Working Papers 154, Northwestern University/University of Chicago Joint Center for Poverty Research.
  8. repec:rus:hseeco:316558 is not listed on IDEAS
  9. James J. Heckman & Jora Stixrud & Sergio Urzua, 2006. "The Effects of Cognitive and Noncognitive Abilities on Labor Market Outcomes and Social Behavior," NBER Working Papers 12006, National Bureau of Economic Research, Inc.
  10. John M. Barron & Mark C. Berger & Dan A. Black, 2006. "Selective Counteroffers," Journal of Labor Economics, University of Chicago Press, vol. 24(3), pages 385-410, July.
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