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Title: A Model of Optimal Human-Capital Accumulation and the Wages of Young High School Graduates
Resulting in 1 citation.
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Brown, Charles |
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A Model of Optimal Human-Capital Accumulation and the Wages of Young High School Graduates Journal of Political Economy 84,2 (April 1976): 299-316. Also: http://www.jstor.org/stable/1831902 Cohort(s): Young Men Publisher: University of Chicago Press Keyword(s): High School Completion/Graduates; Life Cycle Research; Schooling; Wages, Youth This paper estimates the parameters of Ben-Porath's model of optimal accumulation of human capital over the life cycle. A discrete-time version of the model is presented, and previous estimates of its parameters are considered. Using longitudinal data on wages of young white high school graduates, these parameters are reestimated. The point estimates of the two key parameters (the discount rate and the elasticity of investment costs with respect to investments) are implausible on a priori grounds, confirming the essentially negative conclusions of earlier studies. |
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Bibliography Citation
Brown, Charles. "A Model of Optimal Human-Capital Accumulation and the Wages of Young High School Graduates." Journal of Political Economy 84,2 (April 1976): 299-316.
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