An empirical analysis of the risk properties of human capital returns

Palacios-Huerta, I. (2003). An empirical analysis of the risk properties of human capital returns. American Economic Review, 93(3), 948-964. https://doi.org/10.1257/000282803322157197
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Presents an empirical analysis of the risk properties of human capital returns. Discussion on measures of human capital returns; Description of the mean-variance spanning methodology; Information on real human capital returns and U.S. equity index return for 1964 to 1996.

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