Heterogeneity in Human Capital Investments: High School Curriculum, College Major, and Careers /
Altonji, Joseph G.
Heterogeneity in Human Capital Investments: High School Curriculum, College Major, and Careers / Joseph G. Altonji, Erica Blom, Costas Meghir. - Cambridge, Mass. National Bureau of Economic Research 2012. - 1 online resource: illustrations (black and white); - NBER working paper series no. w17985 . - Working Paper Series (National Bureau of Economic Research) no. w17985. .
April 2012.
Motivated by the large differences in labor market outcomes across college majors, we survey the literature on the demand for and return to high school and post-secondary education by field of study. We combine elements from several papers to provide a dynamic model of education and occupation choice that stresses the roles of specificity of human capital and uncertainty about preferences, ability, education outcomes, and labor market returns. The model implies an important distinction between the ex ante and ex post returns to education decisions. We also discuss some of the econometric difficulties in estimating the causal effects of field of study on wages in the context of a sequential choice model with learning. Finally, we review the empirical literature on choice of curriculum and the effects of high school courses and college major on labor market outcomes.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.
Heterogeneity in Human Capital Investments: High School Curriculum, College Major, and Careers / Joseph G. Altonji, Erica Blom, Costas Meghir. - Cambridge, Mass. National Bureau of Economic Research 2012. - 1 online resource: illustrations (black and white); - NBER working paper series no. w17985 . - Working Paper Series (National Bureau of Economic Research) no. w17985. .
April 2012.
Motivated by the large differences in labor market outcomes across college majors, we survey the literature on the demand for and return to high school and post-secondary education by field of study. We combine elements from several papers to provide a dynamic model of education and occupation choice that stresses the roles of specificity of human capital and uncertainty about preferences, ability, education outcomes, and labor market returns. The model implies an important distinction between the ex ante and ex post returns to education decisions. We also discuss some of the econometric difficulties in estimating the causal effects of field of study on wages in the context of a sequential choice model with learning. Finally, we review the empirical literature on choice of curriculum and the effects of high school courses and college major on labor market outcomes.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.