Is there a risk-return trade-off in educational choices? Evidence from Spain

Luis Díaz-Serrano*, Joop Hartog

*Autor correspondente para este trabalho

Resultado de pesquisarevisão de pares

12 Citações (Scopus)

Resumo

We use data from Spain to test for an effect of earnings variance and skewness on individual wages. We carry out separate estimations for men and women. In accordance with the scant previous evidence mainly focused on the US, we report the existence of a risk-return trade-off across educational choices in the Spanish labor market. These results are in conformity with preferences of risk-averse individuals with decreasing absolute risk aversion and hence, with preference for skewness. In contrast with the previous literature, our analysis is based just in education cells, instead of on occupation or occupation/education cells. This improvement allows us to capture in a more suitable way the essence of earnings risk.
Idioma originalEnglish
Páginas (de-até)353-380
Número de páginas28
RevistaInvestigaciones Economicas
Volume30
Número de emissão2
Estado da publicaçãoPublicado - mai. 2006
Publicado externamenteSim

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