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Are Austrian Returns to Education Falling Over Time?

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Author Info
Fersterer, Josef
Winter-Ebmer, Rudolf

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Abstract

In this paper we make a systematic presentation of returns to education in Austria for the period 1981-1997. We use consistent cross-sections from the Mikrozensus and find falling returns over time. These falling returns are not caused by changes in the sample design and reduced willingness to reveal personal incomes in the survey. Moreover, it is shown that especially returns to university education have fallen. If the focus is not on mean returns, but if we apply quartile regression techniques, interesting patterns emerge: returns are falling the most in the lowest quartiles, but remain almost constant in the highest quartiles. The overall picture of falling returns is consistent with a rise in the supply of well-educated workers in the past two decades.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 2313.

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Date of creation: Dec 1999
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Handle: RePEc:cpr:ceprdp:2313

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Related research
Keywords: Quartile Regression; Returns to Education; Sample Selection;

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Find related papers by JEL classification:
I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Ichino, Andrea & Winter-Ebmer, Rudolf, 1999. "Lower and upper bounds of returns to schooling: An exercise in IV estimation with different instruments," European Economic Review, Elsevier, vol. 43(4-6), pages 889-901, April. [Downloadable!] (restricted)
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  2. Koenker, Roger & Bassett, Gilbert, Jr, 1982. "Robust Tests for Heteroscedasticity Based on Regression Quantiles," Econometrica, Econometric Society, vol. 50(1), pages 43-61, January. [Downloadable!] (restricted)
  3. Orley Ashenfelter & Colm Harmon & Hessel Oosterbeek, 2000. "A Review of Estimates of the Schooling/Earnings Relationship, with Tests for Publication Bias," NBER Working Papers 7457, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  4. Mwabu, Germano & Schultz, T Paul, 1996. "Education Returns across Quantiles of the Wage Function: Alternative Explanations for Returns to Education by Race in South Africa," American Economic Review, American Economic Association, vol. 86(2), pages 335-39, May. [Downloadable!] (restricted)
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  5. Hungerford, Thomas & Solon, Gary, 1987. "Sheepskin Effects in the Returns to Education," The Review of Economics and Statistics, MIT Press, vol. 69(1), pages 175-77, February. [Downloadable!] (restricted)
  6. 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. [Downloadable!] (restricted)
  7. Goldin, Claudia, 1998. "America's Graduation from High School: The Evolution and Spread of Secondary Schooling in the Twentieth Century," The Journal of Economic History, Cambridge University Press, vol. 58(02), pages 345-374, June. [Downloadable!]
  8. Psacharopoulos, George, 1994. "Returns to investment in education: A global update," World Development, Elsevier, vol. 22(9), pages 1325-1343, September. [Downloadable!] (restricted)
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  9. Zweimuller, J & Winter-Ebmer, R, 1994. "Gender Wage Differentials in Private and Public Sector Jobs," Journal of Population Economics, Springer, vol. 7(3), pages 271-85, July.
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  10. Sicherman, Nachum, 1991. ""Overeducation" in the Labor Market," Journal of Labor Economics, University of Chicago Press, vol. 9(2), pages 101-22, April. [Downloadable!] (restricted)
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  11. Andrea Ichino & Rudolf Winter-Ebmer, 2004. "The Long-Run Educational Cost of World War II," Journal of Labor Economics, University of Chicago Press, vol. 22(1), pages 57-86, January. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Dalia Marin, 2004. "‘A Nation of Poets and Thinkers’ - Less So with Eastern Enlargement? Austria and Germany," Discussion Papers 77, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
    Other versions:
  2. Patrinos, Harry Anthony & Sakellariou, Chris, 2004. "Economic volatility and returns to education in Venezuela : 1992-2002," Policy Research Working Paper Series 3459, The World Bank. [Downloadable!]
    Other versions:
  3. Rudolf Winter-Ebmer, 2000. "Long-term consequences of an innovative redundancy-retraining project: The Austrian Steel Foundation," Economics working papers 2000-29, Department of Economics, Johannes Kepler University Linz, Austria. [Downloadable!]
  4. Winter-Ebmer, Rudolf, 2001. "Evaluating an Innovative Redundancy-Retraining Project: The Austrian Steel Foundation," IZA Discussion Papers 277, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  5. Georg Wernhart & Rudolf Winter-Ebmer, 2008. "Do Austrian Men and Women Become more Equal? At Least in Terms of Labor Supply!," Economics working papers 2008-05, Department of Economics, Johannes Kepler University Linz, Austria. [Downloadable!]
  6. Josef Fersterer & Rudolf Winter-Ebmer, 2000. "Smoking, discount rates, and returns to education," Economics working papers 2000-02, Department of Economics, Johannes Kepler University Linz, Austria. [Downloadable!]
    Other versions:
  7. Gustavsson, Magnus, 2004. "Changes in Educational Wage Premiums in Sweden: 1992-2001," Working Paper Series 2004:10, Uppsala University, Department of Economics.
  8. Giovagnoli, Paula Ines & Fiszbein, Ariel & Patrinos, Harry Anthony, 2005. "Estimating the returns to education in Argentina : 1992-2002," Policy Research Working Paper Series 3715, The World Bank. [Downloadable!]
  9. Budria, Santiago, 2005. "Can over-education account for the positive association between education and within-groups wage inequality? A note," MPRA Paper 92, University Library of Munich, Germany. [Downloadable!]
  10. Böheim, René & Hofer, Helmut & Zulehner, Christine, 2005. "Wage Differences Between Men and Women in Austria: Evidence from 1983 and 1997," IZA Discussion Papers 1554, Institute for the Study of Labor (IZA). [Downloadable!]
  11. B. Müge Tunaer & Yaprak Gülcan, 2006. "Measuring Returns to Education in Turkey," Papers of the Annual IUE-SUNY Cortland Conference in Economics, in: Proceedings of the Conference on Human and Economic Resources, pages 66-71 Izmir University of Economics. [Downloadable!]
  12. Budria, Santiago & Telhado-Pereira, Pedro, 2005. "Educational Qualifications and Wage Inequality: Evidence for Europe," MPRA Paper 91, University Library of Munich, Germany. [Downloadable!]
    Other versions:
  13. Gudrun Biffl & Joseph E. Isaac, 2001. "Should Higher Education Students Pay Tuiton Fees?," WIFO Working Papers 172, WIFO. [Downloadable!]
  14. Pedro Telhado Pereira & Pedro Silva Martins, 2002. "Does Education Reduce Wage Inequality? Quantile Regressions Evidence from Fifteen European Countries," Discussion Papers 709, The Research Institute of the Finnish Economy. [Downloadable!]
    Other versions:
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