HUMAN Capital Contracts in Chile : An excercise based on Income data on Chilean HE graduates
Given that a significant proportion of the Chilean education system is financed with household resources, we present human capital contracts (HCC) as an option for higher education financing for students facing financial constraints, but who could use their expected future income flows as collateral. We analyze the feasibility of HCC implementation in Chile over a set of college majors. We find that HCC can partially fund any college major in Chile and finance some majors completely, under certain conditions. Among the variables analyzed, those affecting most severely the contract pricing are initial wage level after graduation and graduation rate.
|Date of creation:||21 Jul 2011|
|Date of revision:||29 Nov 2012|
|Publication status:||Published in Latin American Jounal of Economics 2.49(2012): pp. 185-215|
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Web page: http://mpra.ub.uni-muenchen.de
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