We develop a model in which aggregate production risk determines the average level of education and its distribution. Greater risk is associated with greater educational inequality and a lower average attainment. An empirical test using panel data supports this conclusion.
Risk and the distribution of human capital / D. Checchi, C. García-Peñalosa. - In: ECONOMICS LETTERS. - ISSN 0165-1765. - 82:1(2004), pp. 53-61.
Risk and the distribution of human capital
D. ChecchiPrimo
;
2004
Abstract
We develop a model in which aggregate production risk determines the average level of education and its distribution. Greater risk is associated with greater educational inequality and a lower average attainment. An empirical test using panel data supports this conclusion.File in questo prodotto:
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