Earnings risk and demand for higher education: a cross-section test for Spain

Joop Hartog, Luis Diaz-Serrano*

*Autor correspondente para este trabalho

Resultado de pesquisarevisão de pares

22 Citações (Scopus)

Resumo

We develop a simple human capital model for optimum schooling length when earnings are stochastic, and highlight the pivotal role of risk attitudes and the schooling gradient of earnings risk. We use Spanish data to document the gradient and to estimate individual response to earnings risk in deciding on attending university education, by measuring risk as the residual variance in regional earnings functions. We find that the basic response is negative but that in households with lower risk aversion, the response will be dampened substantially and may even be reversed to positive.
Idioma originalEnglish
Páginas (de-até)1-28
Número de páginas28
RevistaJournal of Applied Economics
Volume10
Número de emissão1
DOIs
Estado da publicaçãoPublicado - mai. 2007
Publicado externamenteSim

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