The private net present value and private internal rate of return to becoming a nurse in Great Britain
AbstractThe 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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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 34 (2002)
Issue (Month): 17 ()
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- Frijters, Paul & Shields, Michael A. & Wheatley Price, Stephen, 2003.
"Investigating the Quitting Decision of Nurses: Panel Data Evidence from the British National Health Service,"
IZA Discussion Papers
794, Institute for the Study of Labor (IZA).
- Paul Frijters & Michael A. Shields & Stephen Wheatley Price, 2007. "Investigating the quitting decision of nurses: panel data evidence from the british national health service," Health Economics, John Wiley & Sons, Ltd., vol. 16(1), pages 57-73.
- 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.
- Paul Frijters & Michael A. Shields & Stephen Wheatley Price, 2004. "Investigating The Quitting Decision Of Nurses:Panel Data Evidence From The British National Health Service," Paul Frijters Discussion Papers 2004-4, School of Economics and Finance, Queensland University of Technology.
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