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Risk and Returns to Education

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NBER2012-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w18300
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We analyze the returns to education in a life-cycle framework that incorporates risk preferences, earnings volatility (including unemployment), and a progressive income tax and social insurance system. We show that such a framework significantly reduces the measured gains from education relative to
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2012-08-01
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