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Keywords:Human capital investment OR Human Capital Investment 

Working Paper
Stock Market Investment: The Role of Human Capital

Participation in the stock market is limited, especially early in life. By contrast, human capital investment is widespread, especially early in life. Returns to equity are constant across households, while returns to human capital vary. The contribution of this paper is to demonstrate that once human capital investment is allowed for and, critically, disciplined to match observed dispersion in earnings, an entirely standard model of portfolio choice delivers stock market participation rates consistent with the data over the entire life cycle. Moreover, we show that endogenizing human capital ...
Finance and Economics Discussion Series , Paper 2015-65

Working Paper
The Signaling, Screening, and Human Capital Effects of National Board Certification: Evidence from Chicago and Kentucky High Schools

Working Paper Series , Paper WP-2020-06

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