Finance and Economics Discussion Series: The Human Capital That Matters: Expected Returns and the Income of Affluent Households by Sean D. Campbell, George M. Korniotis

Finance and Economics Discussion Series: The Human Capital That Matters: Expected Returns and the Income of Affluent Households

Sean D. Campbell, George M. Korniotis

52 pages • missing pub info (editions)

nonfiction politics
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We implement the human capital CAPM (HCAPM) using the income growth of high income households, rather than aggregate income growth, to proxy the return to human capital (HCRT). We find that identifying the HCRT with the income growth of affluent h...

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