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Title:Unobserved heterogeneity and risk in wage variance: Does schooling provide earnings insurance? PDF Logo
Authors:Mazza, Jacopo
van Ophem, Hans
Hartog, Joop
Issue Date:2011
Series/Report no.:Discussion paper series // Forschungsinstitut zur Zukunft der Arbeit 5531
Abstract:We apply a recently proposed method to disentangle unobserved heterogeneity from risk in returns to education. We replicate the original study on US men and extend to US women, UK men and German men. Most original results are not robust. A college education cannot universally be considered an insurance against unpredictability of wages. One conclusion is unequivocally confirmed: uncertainty strongly dominates unobserved heterogeneity.
Subjects:wage inequality
wage uncertainty
unobserved heterogeneity
selectivity
education
replication
JEL:C01
C33
C34
J31
Persistent Identifier of the first edition:urn:nbn:de:101:1-201104133332
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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