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dc.contributor.authorGlocker, Danielaen_US
dc.contributor.authorStorck, Johannaen_US
dc.description.abstractApplying a financial assets approach, we analyze the returns and earnings risk of investments into different types of human capital. Even though the returns from investing in human capital are extensively studied, little is known about the properties of the returns to different types of human capital within a given educational path. Using information from the German Micro Census, we estimate the risk and returns to around 70 fields of education and differentiate between vocational and academic education. We identify fields of education that are efficient investment goods, i.e. high returns at a given level of risk, and fields that are chosen for other (non-monetary) reasons. Furthermore, we rank fields of education by their return per unit of risk and find that university education is not always superior to other educational paths.en_US
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen_US
dc.relation.ispartofseries|aDIW Discussion Papers |x1240en_US
dc.subject.keywordEducational Choiceen_US
dc.subject.keywordHuman Capital Investmenten_US
dc.subject.keywordReturns to Schoolingen_US
dc.subject.keywordMean-Variance Analysisen_US
dc.titleRisk and returns to educational fields: A financial asset approach to vocational and academic educationen_US
dc.typeWorking Paperen_US

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