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Title:Absolute Risk Aversion and the Returns to Education PDF Logo
Authors:Brunello, Giorgio
Issue Date:2000
Series/Report no.:IZA Discussion paper series 192
Abstract:Individual absolute risk aversion is measured for a sample of 1373 male household heads, using the 1995 wave of the Survey on the Income and Wealth of Italian households. This measure, conditional on financial and real wealth and household income, is used as an instrument for attained education in a standard log earnings equation. I find that, in line with the literature, the gap between IV and OLS estimates of the returns to education is large.
Subjects:Returns to education
instrumental variables
JEL:J24
J31
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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