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- W1570383992 abstract "This paper explores the role of wage structure as implicit insurance on human capital. It is shown that smaller wage differentials in the developed world can be welfare-enhancing by providing implicit insurance while larger wage differentials in underdeveloped countries make investments in human capital riskier. In other words, the students in a developed country are insured against poor educational outcomes through the existence of well-paid alternative employments which are not present in the economy of a less developed country. These results arise in a general equilibrium model when there are no insurance markets for human capital. (This abstract was borrowed from another version of this item.)" @default.
- W1570383992 created "2016-06-24" @default.
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- W1570383992 date "1992-01-01" @default.
- W1570383992 modified "2023-09-27" @default.
- W1570383992 title "The Role of Wage Structure as Implicit Insurance on human Capital in Developed Versus Underdeveloped Countries" @default.
- W1570383992 hasPublicationYear "1992" @default.
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