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Postgraduate Education and Human Capital Productivity in Japan

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  • MORIKAWA Masayuki

Abstract

In advanced countries, including Japan, the number of workers with postgraduate degrees is increasing. These highly educated workers are important contributors to innovation. This paper, using published data from the Employment Status Survey, estimates standard wage functions to investigate the effects of postgraduate degree on productivity and the rate of return on postgraduate education. According to the analysis, wage premium for postgraduates relative to undergraduates is about 20% in Japan, which is comparable to the figures found in the United States and the United Kingdom. The premium is larger for female employees. Wage reduction after age 60 is smaller, and retirement age is higher for workers with postgraduate education. Considering the trend toward advanced technology and the growing demand for human capital, postgraduate education is becoming important to vitalize the Japanese economy. At the same time, expansion of postgraduate education may contribute to narrowing the wage gap between male and female workers and increasing labor force participation of elderly people.

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Bibliographic Info

Paper provided by Research Institute of Economy, Trade and Industry (RIETI) in its series Discussion papers with number 12009.

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Length: 22 pages
Date of creation: Feb 2012
Date of revision:
Handle: RePEc:eti:dpaper:12009

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  1. Lindley, Joanne & Machin, Stephen, 2011. "Rising Wage Inequality and Postgraduate Education," IZA Discussion Papers 5981, Institute for the Study of Labor (IZA).
  2. Carneiro, Pedro & Lee, Sokbae, 2010. "Trends in Quality-Adjusted Skill Premia in the United States, 1960-2000," IZA Discussion Papers 5295, Institute for the Study of Labor (IZA).
  3. Yu Zhu & Ian Walker, 2011. "Differences by Degree: Evidence of the Net Financial Rates of Return to Undergraduate Study for England and Wales," Working Papers 33, AlmaLaurea Inter-University Consortium.
  4. Richard Blundell & Lorraine Dearden & Costas Meghir & Barbara Sianesi, 1999. "Human capital investment: the returns from education and training to the individual, the firm and the economy," Fiscal Studies, Institute for Fiscal Studies, vol. 20(1), pages 1-23, March.
  5. ICHIMURA Hidehiko & SHIMIZUTANI Satoshi & HASHIMOTO Hideki, 2009. "JSTAR First Results 2009 Report," Discussion papers 09047, Research Institute of Economy, Trade and Industry (RIETI).
  6. Oliver Falck & Michael Fritsch & Stephan Heblich, 2010. "The Phantom of the Opera: Cultural Amenities, Human Capital, and Regional Economic Growth," Ifo Working Paper Series Ifo Working Paper Nr. 88, Ifo Institute for Economic Research at the University of Munich.
  7. Benjamin F. Jones, 2009. "The Burden of Knowledge and the "Death of the Renaissance Man": Is Innovation Getting Harder?," Review of Economic Studies, Oxford University Press, vol. 76(1), pages 283-317.
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