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Labour market assimilation of Danish first‐generation male immigrants is analysed based on two panel data sets covering the population of immigrants and 10 per cent of the Danish population during 1984‐1995. Wages and employment probabilities are estimated jointly in a random effects model which corrects for unobserved cohort and individual effects and panel selectivity due to missing wage information. The results show that immigrants assimilate partially to Danes, but the assimilation process differs between refugees and non‐refugees.

This volume is a collection of papers first presented at a conference held in June 2004 dedicated to the memory of the late Tikva Lecker, hosted by Bar-Ilan University in Ramat Gan, Israel, and co-sponsored by the University of Illinois at Chicago. A warm and lively member of the Department of Economics at Bar Ilan University, Professor Lecker's many interests included topics in labor economics, women and the economy, the economics of Judaism, the economics of migration, and every aspect of the economic experience of immigrants and their descendants.

We survey the literature on the Risk Augmented Mincer equation that seeks to estimate the compensation for uncertainty in the future wage to be earned after completing an education. There is wide empirical support for the predicted positive effect of wage variance and the negative effect of wage skew. We discuss robustness of the findings across specifications, potential bias from unobserved heterogeneity and selectivity and consider the core issue of students' information on benefits from education.