This paper looks at the joint impact of labour market risk and selection into employment on returns to education estimates. The risk-adjusted returns to both high school and college for males are larger than unadjusted returns. For females, risk leads to an increase in returns to high school but to a "decrease" in the returns to college…

We use data from the "Trajectoires et Origines" survey to analyze ethnic gaps in education and labor-market outcomes between second-generation immigrants and their French-native counterparts. Our three main findings underscore the importance of family background in explaining lifelong ethnic inequalities. First, second-generation…