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Evaluating Educational Output: An Estimation Method Based on Cross-Section Data

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Author Info
M. C. Navarro-Perez
J. M. Serrano-Sanz

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Abstract

One of the ways to evaluate educational output rests on its consideration as an investment. A part of the returns can be identified as the differential earnings obtained by individuals with a higher education level. The most common information on the earnings obtained by individuals comes in the form of cross-section data.These must be transformed in order to obtain a life-cycle earnings series from which the effects of education must be isolated. This paper defines a model adapted to the use of cross-section data, which allows us to both rank and respond to the different information problems that successively appear, as well as to propose a classification for the adjustments by which the earnings must be corrected, on the basis of the reasons that justify such adjustments and their order of application.The empirical application of the methodology is directed towards estimating the value of university education in Spain on the basis of the criteria discussed earlier in the paper.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal Education Economics.

Volume (Year): 10 (2002)
Issue (Month): 1 (April)
Pages: 71-95
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Handle: RePEc:taf:edecon:v:10:y:2002:i:1:p:71-95

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