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Title: THE MONEY VALUE OF A MAN

Citation Type: Working Paper

Publication Year: 2012

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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.

Url: https://www.nber.org/papers/w18066.pdf

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Authors: Huggett, Mark; Kaplan, Greg

Series Title: NBER WORKING PAPER SERIES

Publication Number: 18066

Institution: NBER

Pages: 58

Publisher Location:

Data Collections: IPUMS CPS

Topics: Labor Force and Occupational Structure

Countries: United States