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Abstract

Given that a significant proportion of the Chilean education system is financed with household resources, we present human capital contracts HCC as an option for higher education financing for students facing financial constraints, but who could use their expected future income flows as collateral. We analyze the feasibility of HCC implementation in Chile over a set of college majors. We find that HCC can partially fund any college major in Chile and finance some majors completely, under certain conditions. Among the variables analyzed, those affecting most severely the contract pricing are initial wage level after graduation and graduation rate.



Item Type: MPRA Paper -

Original Title: HUMAN Capital Contracts in Chile : An excercise based on Income data on Chilean HE graduates-

Language: English-

Keywords: Higher education returns, education financing, human capital contracts, human capital earning functions, income contingent schemes-

Subjects: J - Labor and Demographic Economics > J3 - Wages, Compensation, and Labor Costs > J31 - Wage Level and Structure ; Wage DifferentialsJ - Labor and Demographic Economics > J2 - Demand and Supply of Labor > J24 - Human Capital ; Skills ; Occupational Choice ; Labor ProductivityG - Financial Economics > G1 - General Financial Markets > G13 - Contingent Pricing ; Futures PricingI - Health, Education, and Welfare > I2 - Education and Research Institutions > I22 - Educational Finance ; Financial AidC - Mathematical and Quantitative Methods > C0 - General > C01 - Econometrics-





Autor: Lozano Rojas, Felipe Andres

Fuente: https://mpra.ub.uni-muenchen.de/42982/



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