We extend the standard human capital earnings function to include dispersion in the return to schooling by treating the return as a random coefficient (RC). If the rapid expansion in participation in higher education has ...
In this paper we focus on education as a private decision to invest in ‘human capital’ and the estimation of the rate of return to that private investment. While the literature is replete with studies that estimate the ...
Volatility modelling is a key issue for the finance industry from an academic and practitioner perspective. This is understandable given the importance that volatility plays in risk management and the development of accurate ...
This paper provides among the first rigorous estimates of the labor-market returns to community college certificates and diplomas, as well as estimating the returns to the more commonly-studied associate’s degrees. Using ...
We extend the standard human capital earnings function to include dispersion in the return to schooling by treating the return as a random coefficient. If the rapid expansion in participation in higher education has been ...
This paper investigates the risk-return relationship in determination of housing asset
pricing. In so doing, the paper evaluates behavioral hypotheses advanced by Case and
Shiller (1988, 2002, 2009) in studies of boom ...
This paper investigates the risk-return relationship in determination of housing asset pricing. In so doing, the paper evaluates behavioral hypotheses advanced by Case and Shiller (1988, 2002, 2009) in studies of boom and ...
In this paper we extend the standard human capital earnings function to include dispersion in the rate of return to schooling by treating the return as a random
coefficient. One motivation is that if the increase in supply ...
This paper estimates the impact of schooling on the wages of men. It is important to know what the return on educational investments might be since a high return implies that there might be too little of such investments. ...
If asset returns are predictable, then rational expectations and the arithmetic of budget constraints together imply that these predictable changes in returns should affect current consumption. This paper presents a new ...