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The Private and Social Return to Schooling in Italy

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Author Info

  • Antonio Ciccone

    (ICREA and Universitat Pompeu Fabra)

  • Federico Cingano

    (Bank of Italy, Research Department)

  • Piero Cipollone

    ()
    (Bank of Italy, Research Department)

Abstract

We estimate the private (individual) and social return to schooling in Italy and four macro-regions. Our estimates take into account the effects of schooling on employment and wages as well as the key features of the Italian tax and social insurance system. We find that the individual return to schooling compares favorably to the return to financial assets (especially in the South). At the social level, the available infrastructure capital data indicates that the return to schooling exceeds that to infrastructures in the South.

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Bibliographic Info

Article provided by GDE (Giornale degli Economisti e Annali di Economia), Bocconi University in its journal Giornale degli Economisti e Annali di Economia.

Volume (Year): 63 (2004)
Issue (Month): 3-4 (December)
Pages: 413-444

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Handle: RePEc:gde:journl:gde_v63_n3-4_p413-444

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Related research

Keywords: Education; Regional development; Wages; Employment probability;

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References

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  1. Charles I. Jones, . "Sources of U.S. Economic Growth in a World of Ideas," Working Papers 98009, Stanford University, Department of Economics.
  2. Lucifora, Claudio & Comi, Simona & Brunello, Giorgio, 2000. "The Returns to Education in Italy: A New Look at the Evidence," IZA Discussion Papers 130, Institute for the Study of Labor (IZA).
  3. Angel de la Fuente & Antonio Ciccone, 2003. "Human capital in a global and knowledge-based economy," UFAE and IAE Working Papers 562.03, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  4. Claudia Goldin & Lawrence F. Katz, 1998. "Human Capital and Social Capital: The Rise of Secondary Schooling in America, 1910 to 1940," NBER Working Papers 6439, National Bureau of Economic Research, Inc.
  5. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2000. "The Role of Social Capital in Financial Development," NBER Working Papers 7563, National Bureau of Economic Research, Inc.
  6. Angel de la Fuente & Rafael Domenech & Juan Francisco Jimeno, 2003. "Human capital as a factor of growth and employment at the regional level. The case of Spain," UFAE and IAE Working Papers 610.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  7. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January.
  8. Andrea Brandolini & Piero Cipollone & Paolo Sestito, 2001. "Earnings Dispersion, Low Pay and Household Poverty in Italy, 1977-1998," Temi di discussione (Economic working papers) 427, Bank of Italy, Economic Research and International Relations Area.
  9. Cohen, Daniel & Piketty, Thomas & Saint-Paul, Gilles (ed.), 2002. "The Economics of Rising Inequalities," OUP Catalogue, Oxford University Press, number 9780199254026, October.
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Citations

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Cited by:
  1. Vincenzo Scoppa, 2007. "Quality of Human and Physical Capital and Technological Gaps across Italian Regions," Regional Studies, Taylor & Francis Journals, vol. 41(5), pages 585-599.
  2. Vincenzo Scoppa, 2013. "Technological catch-up or neoclassical convergence? Identifying the channels of convergence for Italian regions," Economics and Business Letters, Oviedo University Press, vol. 2(4).
  3. Stefania Gabriele & Fiorella Kostoris Padoa Schioppa, 2006. "Un’analisi economica della mobilità sociale in Italia," Rivista di Politica Economica, SIPI Spa, vol. 96(3), pages 47-111, May-June.
  4. Floro Ernesto Caroleo, 2012. "Il difficile passaggio verso il lavoro dei giovani che lasciano la scuola: Quali possibili politiche?," Discussion Papers 5_2012, CRISEI, University of Naples "Parthenope", Italy.
  5. Concetta, MENDOLICCHIO, 2006. "A Disaggregate Analysis of Private Returns to Education in Italy," Discussion Papers (ECON - Département des Sciences Economiques) 2006054, Université catholique de Louvain, Département des Sciences Economiques.
  6. Aiello, Francesco & Scoppa, Vincenzo, 2008. "Convergence and Regional Productivity Divide in Italy: Evidence from Panel Data," MPRA Paper 17343, University Library of Munich, Germany.
  7. Bronzini, Raffaello & Piselli, Paolo, 2009. "Determinants of long-run regional productivity with geographical spillovers: The role of R&D, human capital and public infrastructure," Regional Science and Urban Economics, Elsevier, vol. 39(2), pages 187-199, March.
  8. Inés P. Murillo Huertas & Francisco Pedraja Chaparro, 2009. "¿Es rentable para el sector público invertir en educación?," Hacienda Pública Española, IEF, vol. 188(1), pages 9-29, March.
  9. Mastromarco, C. (Camilla) & Peragine, V. (Vito) & Serlenga, L. (Laura), 2011. "GINI DP 69: Return to Education and Income Inequality in Europe and the US," GINI Discussion Papers 69, AIAS, Amsterdam Institute for Advanced Labour Studies.
  10. Michael Landesmann & Sebastian Leitner & Robert Stehrer & Terry Ward, 2009. "Skills and Industrial Competitiveness," wiiw Research Reports 356, The Vienna Institute for International Economic Studies, wiiw.
  11. Noe', Chiara, 2009. "Subject of degree and the gender wage gap: Evidence from Italy," MPRA Paper 47289, University Library of Munich, Germany.
  12. Daniel Lederman & William F. Maloney, 2012. "Does What You Export Matter? In Search of Empirical Guidance for Industrial Policies," World Bank Publications, The World Bank, number 9371, February.

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