Skip Navigation

Oxford Economic Papers 2005 57(2):191-261; doi:10.1093/oep/gpi019
This Article
Right arrow Full Text
Right arrow Full Text (PDF)
Right arrow Alert me when this article is cited
Right arrow Alert me if a correction is posted
Services
Right arrow Email this article to a friend
Right arrow Similar articles in this journal
Right arrow Similar articles in ISI Web of Science
Right arrow Alert me to new issues of the journal
Right arrow Add to My Personal Archive
Right arrow Download to citation manager
Right arrow Search for citing articles in:
ISI Web of Science (25)
Right arrowRequest Permissions
Google Scholar
Right arrow Articles by Cunha, F.
Right arrow Articles by Navarro, S.
Right arrow Search for Related Content
Related Collections
Right arrow C33 - Models with Panel Data
Right arrow C51 - Model Construction and Estimation
Right arrow D84 - Expectations; Speculations
Right arrow D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving
Right arrow I21 - Analysis of Education
Right arrow J24 - Human Capital; Skills; Occupational Choice; Labor Productivity
Social Bookmarking
Add to CiteULike   Add to Connotea   Add to Del.icio.us  
What's this?

© Oxford University Press 2005; All rights reserved

The 2004 Hicks Lecture

Separating uncertainty from heterogeneity in life cycle earnings

Flavio Cunha*, James Heckman{dagger}, and Salvador Navarro*

*Department of Economics, University of Chicago, 1126 E. 59th Street, Chicago, IL 60637, USA {dagger}Department of Economics, University of Chicago, the American Bar Foundation and Peking University, and Department of Economics, University College London

This paper develops and applies a method for decomposing cross section variability of earnings into components that are forecastable at the time students decide to go to college (heterogeneity) and components that are unforecastable. About 60% of variability in returns to schooling is forecastable. This has important implications for using measured variability to price risk and predict college attendance.

Key Words: JEL Classification: C33 • D84 • I21


Add to CiteULike CiteULike   Add to Connotea Connotea   Add to Del.icio.us Del.icio.us    What's this?


This article has been cited by other articles:


Home page
 J. Human ResourcesHome page
S. Urzua
Racial Labor Market Gaps: The Role of Abilities and Schooling Choices
J. Human Resources, October 1, 2008; 43(4): 919 - 971.
[Abstract] [PDF]


Disclaimer: Please note that abstracts for content published before 1996 were created through digital scanning and may therefore not exactly replicate the text of the original print issues. All efforts have been made to ensure accuracy, but the Publisher will not be held responsible for any remaining inaccuracies. If you require any further clarification, please contact our Customer Services Department.