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The private net present value and private internal rate of return to becoming a nurse in Great Britain

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  • Stephen Morris
  • Alistair McGuire

Abstract

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.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/00036840210139328
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 34 (2002)
Issue (Month): 17 ()
Pages: 2189-2200

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Handle: RePEc:taf:applec:v:34:y:2002:i:17:p:2189-2200

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Cited by:
  1. Paul Frijters & Michael Shields & Stephen Wheatley Price, 2004. "Investigating the Quitting Decision of Nurses: Panel Data Evidence from the British National Health Service," CEPR Discussion Papers 471, Centre for Economic Policy Research, Research School of Economics, Australian National University.

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