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Returns to education and wage equations

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  • Pedro Telhado Pereira
  • Pedro Silva Martins

Abstract

The paper shows why considering a number of education-dependent covariates in a wage equation decreases the coefficient of education in that equation. This result is illustrated empirically with a meta-analysis for Portugal. The education coefficient decreases when covariates are used that can be considered post-education decisions; on the other hand, it is independent of sample size, tenure and whether hourly or monthly wages are used. These results support the use of a simple specification of the Mincer equation for the study of the total returns to education.

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Bibliographic Info

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

Volume (Year): 36 (2004)
Issue (Month): 6 ()
Pages: 525-531
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Handle: RePEc:taf:applec:v:36:y:2004:i:6:p:525-531

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References

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  1. Richard B. Freeman & James L. Medoff, 1979. "The Two Faces of Unionism," NBER Working Papers 0364, National Bureau of Economic Research, Inc.
  2. Krueger, Alan B & Summers, Lawrence H, 1988. "Efficiency Wages and the Inter-industry Wage Structure," Econometrica, Econometric Society, vol. 56(2), pages 259-93, March.
  3. Card, David, 1999. "The causal effect of education on earnings," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 30, pages 1801-1863 Elsevier.
  4. Harmon, Colm & Denny, Kevin, 1999. "Wages and human capital," Open Access publications from University College Dublin urn:hdl:10197/145, University College Dublin.
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Citations

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Cited by:
  1. Pedro Martins & Yong Yang, 2009. "The impact of exporting on firm productivity: a meta-analysis of the learning-by-exporting hypothesis," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 145(3), pages 431-445, October.
  2. Laia Castany & Enrique López-Bazo & Rosina Moreno, 2007. "Decomposing differences in total factor productivity across firm size," Working Papers XREAP2007-01, Xarxa de Referència en Economia Aplicada (XREAP), revised Mar 2007.
  3. Shabbar Jaffry & Yaseen Ghulam & Vyoma Shah, 2007. "Returns to Education in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 46(4), pages 833-852.
  4. Richard B. Freeman, 2007. "Labor Market Institutions Around the World," NBER Working Papers 13242, National Bureau of Economic Research, Inc.
  5. Haelermans Carla & Borghans Lex, 2011. "Wage effects of on-the-job training. A meta-analysis," Research Memoranda 011, Maastricht : ROA, Research Centre for Education and the Labour Market.
  6. Pedro S. Martins & Yong Yang, 2007. "The Impact of Exporting on Firm Productivity: A Meta-Analysis," Working Papers 6, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.
  7. Corrado Andini, 2010. "A dynamic Mincer equation with an application to Portuguese data," Applied Economics, Taylor and Francis Journals, vol. 42(16), pages 2091-2098.
  8. Livanos, Ilias & Pouliakas, Konstantinos, 2009. "Wage Returns to University Disciplines in Greece: Are Greek Higher Education Degrees Trojan Horses?," IZA Discussion Papers 4442, Institute for the Study of Labor (IZA).
  9. Verhaest, Dieter & Omey, Eddy, 2009. "Overeducation and earnings: some further paneldata evidence," Working Papers 2009/08, Hogeschool-Universiteit Brussel, Faculteit Economie en Management.
  10. Bernhard Boockmann, 2010. "The Combined Employment Effects of Minimum Wages and Labor Market Regulation – A Meta-analysis," IAW Discussion Papers 65, Institut für Angewandte Wirtschaftsforschung (IAW).
  11. Sloane, Peter J. & O'Leary, Nigel C., 2004. "The Return to a University Education in Great Britain," IZA Discussion Papers 1199, Institute for the Study of Labor (IZA).
  12. Maria Arrazola & Jose de Hevia, 2006. "Gender Differentials in Returns to Education in Spain," Education Economics, Taylor and Francis Journals, vol. 14(4), pages 469-486.
  13. Bratti, Massimiliano & Naylor, Robin & Smith, Jeremy, 2007. "Different returns to different degrees? Evidence from the British Cohort Study 1970," The Warwick Economics Research Paper Series (TWERPS) 783, University of Warwick, Department of Economics.
  14. Massimiliano Bratti & Robin Naylor & Jeremy Smith, 2005. "Variations in the Wage Returns to a First Degree: Evidence from the British Cohort Study 1970," UNIMI - Research Papers in Economics, Business, and Statistics unimi-1005, Universitá degli Studi di Milano.
  15. Corrado Andini & Pedro Telhado Pereira, 2007. "Full-time Schooling, Part-time Schooling, and Wages: Returns and Risks in Portugal," IZA Discussion Papers 2651, Institute for the Study of Labor (IZA).
  16. Pouliakas, Konstantinos & Livanos, Ilias, 2008. "The Gender Wage Gap as a Function of Educational Degree Choices in an Occupationally Segregated EU Country (Greece)," MPRA Paper 14168, University Library of Munich, Germany, revised 10 Dec 2009.

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