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Are Austrian returns to education falling over time?

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  • Fersterer, Josef
  • Winter-Ebmer, Rudolf

Abstract

In this paper we make a systematic presentation of returns to education in Austria for the period 1981-1997. We use consistent cross-sections from the Mikrozensus and find falling returns over time. These falling returns are not caused by changes in the sample design and reduced willingness to reveal personal incomes in the survey. Moreover, it is shown that especially returns to university education have fallen. If the focus is not on mean returns, but if we apply quartile regression techniques, interesting patterns emerge: returns are falling the most in the lowest quartiles, but remain almost constant in the highest quartiles. The overall picture of falling returns is consistent with a rise in the supply of well-educated workers in the past two decades.

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Bibliographic Info

Article provided by Elsevier in its journal Labour Economics.

Volume (Year): 10 (2003)
Issue (Month): 1 (February)
Pages: 73-89

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Handle: RePEc:eee:labeco:v:10:y:2003:i:1:p:73-89

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  1. Schultz, T.P. & Mwabu, G., 1995. "Education Returns Across Quantiles of the Wage Function: Alternative Explanation for Returns to Education by Race in South Africa," Papers, Yale - Economic Growth Center 744, Yale - Economic Growth Center.
  2. Ashenfelter, O. & Harmon, C. & Oosterbeek, H., 1999. "A Review of Estimates of the Schooling/ Earnings Relationship, with tests for Publication Bias," Papers, College Dublin, Department of Political Economy- 99/20, College Dublin, Department of Political Economy-.
  3. John Ermisch & Robert Wright, 1994. "Interpretation of negative sample selection effects in wage offer equations," Applied Economics Letters, Taylor & Francis Journals, Taylor & Francis Journals, vol. 1(11), pages 187-189.
  4. Zweimuller, J & Winter-Ebmer, R, 1994. "Gender Wage Differentials in Private and Public Sector Jobs," Journal of Population Economics, Springer, Springer, vol. 7(3), pages 271-85, July.
  5. Sicherman, Nachum, 1991. ""Overeducation" in the Labor Market," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 9(2), pages 101-22, April.
  6. Goldin, Claudia, 1998. "America's Graduation from High School: The Evolution and Spread of Secondary Schooling in the Twentieth Century," Scholarly Articles 2664307, Harvard University Department of Economics.
  7. Card, David, 1999. "The causal effect of education on earnings," Handbook of Labor Economics, Elsevier, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 30, pages 1801-1863 Elsevier.
  8. Francine D. Blau & Lawrence M. Kahn, 1994. "International Differences in Male Wage Inequality: Institutions versus Market Forces," NBER Working Papers 4678, National Bureau of Economic Research, Inc.
  9. Zweimuller, Josef, 1992. "Survey non-response and biases in wage regressions," Economics Letters, Elsevier, vol. 39(1), pages 105-109, May.
  10. Ichino, Andrea & Winter-Ebmer, Rudolf, 1998. "Lower and Upper Bounds of Returns to Schooling: An Exercise in IV estimation with Different Instruments," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2007, C.E.P.R. Discussion Papers.
  11. Reinhard Hujer & Bernd Fitzenberger & Reinhold Schnabel & Thomas E. MaCurdy, 2001. "Testing for uniform wage trends in West-Germany: A cohort analysis using quantile regressions for censored data," Empirical Economics, Springer, Springer, vol. 26(1), pages 41-86.
  12. Hungerford, Thomas & Solon, Gary, 1987. "Sheepskin Effects in the Returns to Education," The Review of Economics and Statistics, MIT Press, vol. 69(1), pages 175-77, February.
  13. Andrea Ichino & Rudolf Winter-Ebmer, 2004. "The Long-Run Educational Cost of World War II," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 22(1), pages 57-86, January.
  14. Psacharopoulos, George, 1994. "Returns to investment in education: A global update," World Development, Elsevier, Elsevier, vol. 22(9), pages 1325-1343, September.
  15. Koenker, Roger & Bassett, Gilbert, Jr, 1982. "Robust Tests for Heteroscedasticity Based on Regression Quantiles," Econometrica, Econometric Society, Econometric Society, vol. 50(1), pages 43-61, January.
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