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| Title: | | Absolute Risk Aversion and the Returns to Education  |
| 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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