Abstract

http://ssrn.com/abstract=2056694
 
 

Citations (1)



 


 



The Money Value of a Man


Mark Huggett


Georgetown University - Department of Economics

Greg Kaplan


University of Pennsylvania

May 2012

NBER Working Paper No. w18066

Abstract:     
This paper posits a notion of the value of an individual's human capital and the associated return on human capital. These concepts are examined using U.S. data on male earnings and financial asset returns. We find that (1) the value of human capital is far below the value implied by discounting earnings at the risk-free rate, (2) mean human capital returns exceed stock returns early in life and decline with age, (3) the stock component of the value of human capital is smaller than the bond component at all ages and (4) human capital returns and stock returns have a small positive correlation over the working lifetime.

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Number of Pages in PDF File: 60

working papers series


Date posted: May 12, 2012  

Suggested Citation

Huggett, Mark and Kaplan, Greg, The Money Value of a Man (May 2012). NBER Working Paper No. w18066. Available at SSRN: http://ssrn.com/abstract=2056694

Contact Information

Mark Huggett (Contact Author)
Georgetown University - Department of Economics ( email )
Washington, DC 20057
United States
202-687-6683 (Phone)
Greg Kaplan
University of Pennsylvania ( email )
Philadelphia, PA 19104
United States
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