This paper develops and estimates a model of occupational choice and learning that allows for correlated learning across occupation specific abilities.
We introduce a method for approximating the value function of high-dimensional dynamic models based on sieves and establish results for the: consistency, rates of convergence, and bounds on the error of approximation.
We introduce a method for approximating the value function of high-dimensional dynamic models based on sieves and establish results for the: consistency, rates of convergence, and bounds on the error of approximation.
This paper develops and estimates an individual model of occupational choice and learning that allows for correlated learning across occupation-specific abilities.
The economic returns to education are well documented. It is also well-known that college graduates with certain majors will earn more than others and find it easier to land a job.