Journal
JOURNAL OF LABOR RESEARCH
Volume 38, Issue 3, Pages 261-282Publisher
SPRINGER
DOI: 10.1007/s12122-017-9245-8
Keywords
Disability; Education; Risk; Heterogeneity
Categories
Funding
- Rehabilitation Research and Training Center on Employment Policy and Measurement
- U.S. Department of Education, National Institute for Disability and Rehabilitation Research (NIDRR) [H133B100030]
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This article takes a first look at the distribution of returns to education for people with disabilities, a particularly disadvantaged group whose labor market performances have not been well studied or documented. Using a nonparametric approach, we uncover significant heterogeneity in the returns to education for these workers, which is drastically masked by conventional parametric methods. Based on these estimates, we construct the Sharpe ratio of human capital investment (taking into account its substantial risk), and our results corroborate the claimed importance of human capital in improving these workers' wages. Our stochastic dominance tests show that the returns to education for workers with disabilities, as a group, may have been affected more adversely in the most recent recession, relative to their non-disabled counterparts.
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