Journal article

ALCOHOL CONSUMPTION AND HUMAN CAPITAL: A RETROSPECTIVE STUDY OF THE LITERATURE

Jenny Lye, Joe Hirschberg

JOURNAL OF ECONOMIC SURVEYS | WILEY | Published : 2010

Abstract

Grossman proposed an individual's health can be viewed as one aspect of their human capital. Following this line of thought a number of recent papers have reported a positive impact of alcohol consumption on earnings. The rationale for the existence of such a relationship is the positive impact of alcohol on physical and mental health. We conduct a meta-analysis to determine whether such factors as: the estimation technique, the presence of ex-drinkers in the sample, possible sample selection bias and publication bias may all contribute to these findings. An additional suggestion for the positive relationship between alcohol and wages is the presence of a common set of personality traits tha..

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