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Compensating wage differentials for schooling risk in Denmark

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dc.creator Diaz-Serrano, Luis
dc.creator Hartog, Joop
dc.creator Skyt Nielsen, Helena
dc.date 2003
dc.date.accessioned 2013-10-16T07:09:17Z
dc.date.available 2013-10-16T07:09:17Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/20199
dc.identifier ppn:377463671
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/20199
dc.description In this paper we test for risk compensation in wages using Danish panel data. With the conviction that the type of education is as important as the education length, we use a very detailed description of the type of education reached by the Danish population to calculate different measures of earnings risk by education. Our long panel data set also allows us to decompose shocks in earnings in a permanent and a transitory component. We test the role of the risks associated to both components in wage compensation. We also experiment with new measures of earnings risk based on transitory intertemporal fluctuations in earnings. Thus, we get closer to risk measures catching the intrinsic long-run feature of schooling-risks and the required compensation. In concordance to what theory predicts, we find that the labor market compensates for such foreseeable risks. Hence, we state a return-risk trade-off for the human capital investments in Denmark.
dc.language eng
dc.relation IZA Discussion paper series 963
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject J3
dc.subject D8
dc.subject ddc:330
dc.subject risk-premium
dc.subject skewness affection
dc.subject schooling risk
dc.subject earnings shocks
dc.subject Lohnstruktur
dc.subject Einkommen
dc.subject Risiko
dc.subject Bildung
dc.subject Schätzung
dc.subject Dänemark
dc.title Compensating wage differentials for schooling risk in Denmark
dc.type doc-type:workingPaper

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