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Education and Matching under Risk

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  • Ilse Lindenlaub

    (Yale University)

Abstract

This paper develops a theory that relates two seemingly unrelated facts: First, while US educational attainment has drastically increased during most of the last century, in recent decades this trend has stagnated. Second, roughly at the same time when educational growth slowed down, there was a shift in the composition of earnings shocks with transitory shocks becoming relatively more important in overall earnings volatility compared to permanent shocks. We study a dynamic general equilibrium matching model, in which heterogeneous agents face idiosyncratic permanent and transitory income risk and make educational choices....

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  • Ilse Lindenlaub, 2016. "Education and Matching under Risk," 2016 Meeting Papers 1544, Society for Economic Dynamics.
    • Handle: RePEc:red:sed016:1544
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