A Regime Switching Model of Schooling Choice as a Job Search Process

Figure 1

Numerical implications.

(a) Reservation wage with respect to if , , , ,

(b) Reservation wage with respect to if

(c) Reservation wage with respect to if

(d) Reservation wage with respect to if

(e) Reservation wage with respect to if

(f) Reservation wage with respect to if

(g) Reservation wage with respect to if