A Human Capital Model of the Effects of Ability and Family Background on Optimal Schooling Levels.
This paper develops a theoretical model of optimal schooling levels where ability and family background are the central explanatory variables. We derive schooling demand and supply functions based on individual wealth maximization. Using the National Longitudinal Survey of Youth 1979 data, we strati...
| Publicado en: | Economic Inquiry Vol. 45; no. 4; pp. 721 - 739 |
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| Autores principales: | , , |
| Formato: | Artículo |
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Wiley-Blackwell
October 2007
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=510695912&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 510695912 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: N pubinfo: dt: October 2007 vid: 45 iid: 4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 510695912 10.1111/j.1465-7295.2007.00058.x ppf: 721 ppct: 18 formats: fmt: – @attributes: type: T – @attributes: type: P size: 4.5MB tig: atl: A Human Capital Model of the Effects of Ability and Family Background on Optimal Schooling Levels. aug: au: Regan, Tracy L. Oaxaca, Ronald L. Burghardt, Galen su: Education & economics Human capital Mathematical models sug: subj: Education & economics Human capital Mathematical models ab: This paper develops a theoretical model of optimal schooling levels where ability and family background are the central explanatory variables. We derive schooling demand and supply functions based on individual wealth maximization. Using the National Longitudinal Survey of Youth 1979 data, we stratify our sample into 1-yr full-time equivalent (FTE) work experience cohorts for 1985-1989. The estimated Mincerian “overtaking” cohort (the years of work experience at which individuals' observed earnings approximately equal what they would have been based on schooling and ability alone) corresponds to 13 FTE years of experience, yielding on average a rate of return of 10.3% and an average (optimal) 11.4 yr of schooling. (JEL J24, J31, J22) Reprinted by permission of the publisher. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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