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Age-dependent Skill Formation and Returns to Education

  • Pfeiffer, Friedhelm
  • Reuß, Karsten

In this study, we try to connect the economic literature on human capital formation with findings from neurobiology and psychology on early childhood development and self-regulation. Our basic framework for assessing the distribution of agespecific returns to investment in skills is an elaboration of the model of skill formation from Cunha, Heckman et al. (2006) over the life cycle. Our simulation based evidence illustrates 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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Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 07-015.

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Date of creation: 2007
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Handle: RePEc:zbw:zewdip:5503
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  1. Flavio Cunha & James Heckman & Susanne Schennach, 2010. "Estimating the technology of cognitive and noncognitive skill formation," CeMMAP working papers CWP09/10, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
  2. James J. Heckman, 2000. "Policies to Foster Human Capital," JCPR Working Papers 154, Northwestern University/University of Chicago Joint Center for Poverty Research.
  3. Heckman, James J., 2007. "The Economics, Technology and Neuroscience of Human Capability Formation," IZA Discussion Papers 2875, Institute for the Study of Labor (IZA).
  4. Gebel, Michael & Pfeiffer, Friedhelm, 2007. "Educational expansion and its heterogeneous returns for wage workers," ZEW Discussion Papers 07-010, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  5. Thomas, D. & Currie, J., 1993. "Does Head Start Make a Difference?," Papers 694, Yale - Economic Growth Center.
  6. David Card, 2000. "Estimating the Return to Schooling: Progress on Some Persistent Econometric Problems," NBER Working Papers 7769, National Bureau of Economic Research, Inc.
  7. James Heckman & Pedro Carneiro & Flavio Cunha, 2004. "The Technology of Skill Formation," 2004 Meeting Papers 681, Society for Economic Dynamics.
  8. Pfeiffer, Friedhelm & Reuß, Karsten, 2008. "Age-dependent skill formation and returns to education," Labour Economics, Elsevier, vol. 15(4), pages 631-646, August.
  9. Cunha, Flavio & Heckman, James J. & Lochner, Lance, 2006. "Interpreting the Evidence on Life Cycle Skill Formation," Handbook of the Economics of Education, Elsevier.
  10. Chesnokova, Tatyana & Krishna, Kala, 2009. "Skill acquisition, credit constraints, and trade," International Review of Economics & Finance, Elsevier, vol. 18(2), pages 227-238, March.
  11. Richard Blundell & Luigi Pistaferri & Ian Preston, 2008. "Consumption Inequality and Partial Insurance," American Economic Review, American Economic Association, vol. 98(5), pages 1887-1921, December.
  12. W. Steven Barnett, 1992. "Benefits of Compensatory Preschool Education," Journal of Human Resources, University of Wisconsin Press, vol. 27(2), pages 279-312.
  13. Janet Currie & Enrico Moretti, 2003. "Mother'S Education And The Intergenerational Transmission Of Human Capital: Evidence From College Openings," The Quarterly Journal of Economics, MIT Press, vol. 118(4), pages 1495-1532, November.
  14. Christian Dustmann, 2004. "Parental background, secondary school track choice, and wages," Oxford Economic Papers, Oxford University Press, vol. 56(2), pages 209-230, April.
  15. Pfeiffer, Friedhelm & Gernandt, Johannes, 2007. "Rising Wage Inequality in Germany," ZEW Discussion Papers 06-019 [rev.2], ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  16. Black, Sandra E. & Devereux, Paul J. & Salvanes, Kjell G., 2005. "From the Cradle to the Labor Market? The Effect of Birth Weight on Adult Outcomes," IZA Discussion Papers 1864, Institute for the Study of Labor (IZA).
  17. Jishnu Das & Stefan Dercon & James Habyarimana & Pramila Krishnan, 2004. "When Can School Inputs Improve Test Scores?," CSAE Working Paper Series 2004-25, Centre for the Study of African Economies, University of Oxford.
  18. James Heckman & Pedro Carneiro, 2003. "Human Capital Policy," NBER Working Papers 9495, National Bureau of Economic Research, Inc.
  19. 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.
  20. Bénabou, Roland & Tirole, Jean, 2002. "Willpower and Personal Rules," CEPR Discussion Papers 3143, C.E.P.R. Discussion Papers.
  21. Knudsen, Eric I. & Heckman, James J. & Cameron, Judy L. & Shonkoff, Jack P., 2006. "Economic, Neurobiological and Behavioral Perspectives on Building America's Future Workforce," IZA Discussion Papers 2190, Institute for the Study of Labor (IZA).
  22. James J. Heckman & Jora Stixrud & Sergio Urzua, 2006. "The Effects of Cognitive and Noncognitive Abilities on Labor Market Outcomes and Social Behavior," Journal of Labor Economics, University of Chicago Press, vol. 24(3), pages 411-482, July.
  23. Daron Acemoglu, 2002. "Technical Change, Inequality, and the Labor Market," Journal of Economic Literature, American Economic Association, vol. 40(1), pages 7-72, March.
  24. Philip Oreopoulos, 2006. "Estimating Average and Local Average Treatment Effects of Education when Compulsory Schooling Laws Really Matter," American Economic Review, American Economic Association, vol. 96(1), pages 152-175, March.
  25. Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September.
  26. Pfeiffer, Friedhelm & Reuß, Karsten, 2008. "Ungleichheit und die differentiellen Erträge frühkindlicher Bildungsinvestitionen im Lebenszyklus," ZEW Discussion Papers 08-001, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  27. Tom Krebs, 2003. "Human Capital Risk And Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 118(2), pages 709-744, May.
  28. Jo Blanden & Paul Gregg & Lindsey Macmillan, 2006. "Explaining Intergenerational Income Persistence: Non-cognitive Skills, Ability and Education," The Centre for Market and Public Organisation 06/146, Department of Economics, University of Bristol, UK.
  29. Anton L. Flossmann & Winfried Pohlmeier, 2006. "Casual Returns to Education: A Survey on Empirical Evidence for Germany," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 226(1), pages 6-23, January.
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