Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/86811 
Year of Publication: 
2011
Series/Report no.: 
Tinbergen Institute Discussion Paper No. 11-045/3
Publisher: 
Tinbergen Institute, Amsterdam and Rotterdam
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
Document Type: 
Working Paper

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