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. Checchi
Primo
;
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.
human capital; inequality; macroeconomic volatility
Settore SECS-P/01 - Economia Politica
2004
Article (author)
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/2434/15751
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