Compensating Wage Differentials for Schooling Risk in Denmark*
利用丹麦行政数据，区分暂时性和永久性收入冲击，分析教育相关的工资风险与偏度如何影响工资水平，发现风险与工资正相关、偏度与工资负相关。
Abstract In this paper we analyse the association between wage differentials and risk using detailed information on length and type of education as seen in Danish administrative registers. Our contribution to the literature is that we distinguish between transitory (time‐series) and permanent (cross‐sectional) income shocks, and estimate the compensation for both sorts of risk. We find that wage risk in a given education cell is associated with higher wages, while skewness is associated with lower wages. As a robustness check, we see that ad hoc risk measures based on earnings‐mobility indicators confirm these findings.