文档介绍：Generalized Stochastic Earnings Functions, Human Capital and Risk of Return in Urban China
Generalized Stochastic Earnings Functions, Human Capital and Risk of Return
in Urban China
By
Geng, Nan (耿楠)
July 30, 2004
Research Area: Labor Economics
Table of Contents
Acknowledgements ………………………………………………………4
Abstract ……………………………………………………………………5
Ⅰ1>. Introduction …………………………………………………………..6
Ⅱ. Prospectus of Education and Human Capital in China …………….10
Education System in China ……………………………………10
Employment System in China ………………………………..13
Human Capital in China’s Urban Labor Market ……………14
Ⅲ. Review of Literature ………………………………………………………16
Human Capital and Its Returns ……………………………..16
Human Capital in Less-Developed Countries (LDCs) …..20
Review of Literature Using CHIP Data ……………………..22
Review of Literature about Risk of Investment in Human Capital ……………………………………………………………27
Just-Pope Production Function …………………………….30
Ⅳ. Theoretical Model Specification ………………………………………..33
Implications of Standard Stochastic Earnings Function Specifications and Risk ………………………………………...33
A More Generalized Specification of Stochastic Earnings Function and Risk ………………………………………………35
Ⅴ. Data and Empirical Model Specification ………………………………..37
Data Description ………………………………………………..37
Empirical Model Specification ……………………………...41
Ⅵ. Estimation, Results and Empirical Analysis ……………………………48
Estimation parison: Generalized Stochastic Earnings Function with Standard Stochastic Earning Function …………………………………………………………..48
Empirical Results and Analysis: Generalized Stochastic Earnings Function with Years of Schooling ……………….51
Empirical Results and Analysis: Generalized Stochastic Earnings Function with Education Level Dummies …………………………………………………………..56
Ⅶ. Conclusion and Policy Implications ……………………………………..62
References …………………………………………………………………...66
Contact Information of Author ......……………………………………………...72
Acknowledgement
Special