The private net present value and private internal rate of return to becoming a nurse in Great Britain is estimated. The calculations are made using the standard equations inputted with data from the New Earnings Survey and the British Household Panel Survey. Basic age-earnings profiles are adjusted for mortality, unemployment, other causes of economic inactivity, and discontinuation from training. The conclusions are that: (1) there is a high private internal rate of return to becoming a nurse in Great Britain relative to other occupations; (2) using the internal rate of return criterion is inappropriate when there exists a crossover marginal time preference rate, which is shown to be the case here; and, (3) using the net present value criterion there are net financial benefits to becoming a nurse in Great Britain for individuals with a marginal time preference rate of 8--13% or more. Copyright 2002 by Taylor and Francis Group
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Article provided by Taylor and Francis Journals in its journal Applied Economics.
Volume (Year): 34 (2002) Issue (Month): 17 (November) Pages: 2189-2200 Download reference. The following formats are available: HTML,
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