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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
Date of revision:
Handle: RePEc:zbw:zewdip:5503
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  1. Susanne Schennach & James Heckman & Flavio Cunha, 2007. "Estimating the Technology of Cognitive and Noncognitive Skill Formation," 2007 Meeting Papers 973, Society for Economic Dynamics.
  2. Das, J. & Dercon, S. & Habyarimana, J. & Krishnan, P., 2004. "‘When Can School Inputs Improve Test Scores?’," Cambridge Working Papers in Economics 0437, Faculty of Economics, University of Cambridge.
  3. Bénabou, Roland & Tirole, Jean, 2002. "Willpower and Personal Rules," CEPR Discussion Papers 3143, C.E.P.R. Discussion Papers.
  4. Thomas, D. & Currie, J., 1993. "Does Head Start Make a Difference?," Papers 694, Yale - Economic Growth Center.
  5. James J. Heckman, 2000. "Policies to Foster Human Capital," JCPR Working Papers 154, Northwestern University/University of Chicago Joint Center for Poverty Research.
  6. Sandra E. Black & Paul J. Devereux & Kjell G. Salvanes, 2006. "From the cradle to the labor market? The effect of birth weight on adult outcomes," LSE Research Online Documents on Economics 19425, London School of Economics and Political Science, LSE Library.
  7. Richard Blundell & Luigi Pistaferri & Ian Preston, 2004. "Consumption inequality and partial insurance," IFS Working Papers W04/28, Institute for Fiscal Studies.
  8. 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.
  9. 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.
  10. James Heckman & Flavio Cunha, 2007. "The Technology of Skill Formation," American Economic Review, American Economic Association, vol. 97(2), pages 31-47, May.
  11. Heckman, James J., 2007. "The Economics, Technology and Neuroscience of Human Capability Formation," IZA Discussion Papers 2875, Institute for the Study of Labor (IZA).
  12. Daron Acemoglu, 2000. "Technical Change, Inequality, and the Labor Market," NBER Working Papers 7800, National Bureau of Economic Research, Inc.
  13. 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.
  14. David Card, 2000. "Estimating the Return to Schooling: Progress on Some Persistent Econometric Problems," NBER Working Papers 7769, National Bureau of Economic Research, Inc.
  15. repec:tpr:qjecon:v:118:y:2003:i:4:p:1495-1532 is not listed on IDEAS
  16. Eric I. Knudsen & James J. Heckman & Judy L. Cameron & Jack P. Shonkoff, 2006. "Economic, Neurobiological and Behavioral Perspectives on Building America's Future Workforce," NBER Working Papers 12298, National Bureau of Economic Research, Inc.
  17. 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.
  18. 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.
  19. 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.
  20. Chesnokova, Tatyana & Krishna, Kala, 2009. "Skill acquisition, credit constraints, and trade," International Review of Economics & Finance, Elsevier, vol. 18(2), pages 227-238, March.
  21. Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September.
  22. 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.
  23. repec:tpr:qjecon:v:118:y:2003:i:2:p:709-744 is not listed on IDEAS
  24. Christian Dustmann, 2004. "Parental background, secondary school track choice, and wages," Oxford Economic Papers, Oxford University Press, vol. 56(2), pages 209-230, April.
  25. James Heckman & Pedro Carneiro, 2003. "Human Capital Policy," NBER Working Papers 9495, National Bureau of Economic Research, Inc.
  26. Flavio Cunha & James J. Heckman & Lance Lochner & Dimitriy V. Masterov, 2005. "Interpreting the Evidence on Life Cycle Skill Formation," NBER Working Papers 11331, National Bureau of Economic Research, Inc.
  27. W. Steven Barnett, 1992. "Benefits of Compensatory Preschool Education," Journal of Human Resources, University of Wisconsin Press, vol. 27(2), pages 279-312.
  28. 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.
  29. 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.
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