The effect of uncertain returns on human capital investment patterns
β Scribed by James Monks
- Publisher
- Springer US
- Year
- 1998
- Tongue
- English
- Weight
- 366 KB
- Volume
- 26
- Category
- Article
- ISSN
- 0197-4254
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π SIMILAR VOLUMES
## SUMMARY This paper estimates the longerβterm effects of childhood conduct disorder on human capital accumulation and violent and criminal behavior later in life using data of Australian twins. We measure conduct disorder with a rich set of indicators based on diagnostic criteria from psychiatry.
We examine the e!ects of human capital on consumption, stock market, and other #uctuations in a general equilibrium continuous-time model. A representative con-sumer}worker}investor derives utility from consumption and leisure. A representative "rm demands labor as the sole input to a stochastic pro