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On the Measurement of Private Rates of Return to Education

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  • Stefan C. Wolter

    (Uni Bern)

  • Bernhard A. Weber

    (Uni Bern)

Abstract

In many countries on the European continent, it is feared that public funding of tertiary education (university and non-university) leads to an undesirable redistribution of income "from the bottom up". The calculation of private rates of return is one way of answering this and other questions. This article proposes a new model for calculating private rates of return to education, which on the one hand takes into account the influence of existing wage structures and such institutional factors as the cost of education and the fiscal system, and on the other hand produces results that are relatively easy to interpret at the economic policy level. The first empirical results for Switzerland indicate that once educational costs have been deducted, wage-earning advantages would be too insignificant for it to be possible to speak of redistribution of income "from the bottom up" in any meaningful way.

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Bibliographic Info

Article provided by Justus-Liebig University Giessen, Department of Statistics and Economics in its journal Journal of Economics and Statistics.

Volume (Year): 218 (1999)
Issue (Month): 5+6 (May)
Pages: 605-618

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Handle: RePEc:jns:jbstat:v:218:y:1999:i:5-6:p:605-618

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Related research

Keywords: rates of return to education; human capital theory; labour market wages;

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Cited by:
  1. Wolter, Stefan C. & Zbinden, André, 2001. "Rates of Return to Education: The View of Students in Switzerland," IZA Discussion Papers 371, Institute for the Study of Labor (IZA).
  2. Wolfgang Becker, 1999. "Gesamtwirtschaftlicher Stellenwert der Humankapitalproduktion im Hochschulbereich in Westdeutschland," Discussion Paper Series 187, Universitaet Augsburg, Institute for Economics.
  3. Simone N. Tuor & Uschi Backes-Gellner, 2010. "Risk-return trade-offs to different educational paths: vocational, academic and mixed," International Journal of Manpower, Emerald Group Publishing, vol. 31(5), pages 495-519, September.
  4. Stanislav Klazar & Milan Sedmihradský & Alena Vančurová, 2001. "Returns of Education in the Czech Republic," International Tax and Public Finance, Springer, vol. 8(4), pages 609-620, August.
  5. Stefan C. Wolter & Stefan Denzler & Bernhard A. Weber, 2003. "Betrachtungen zum Arbeitsmarkt der Lehrer in der Schweiz," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 72(2), pages 305-319.

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