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Wage Returns to University Disciplines in Greece: Are Greek Higher Education Degrees Trojan Horses?

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  • Livanos, Ilias

    ()
    (University of Warwick)

  • Pouliakas, Konstantinos

    ()
    (European Centre for the Development of Vocational Training (Cedefop))

Abstract

This paper examines the wage returns to qualifications and academic disciplines in the Greek labour market. Exploring wage responsiveness across various degree subjects in Greece is interesting, as it is characterised by high levels of graduate unemployment, which vary considerably by field of study, and relatively low levels of wage flexibility. Using micro-data from recently available waves (2002-2003) of the Greek Labour Force Survey (LFS), the returns to academic disciplines are estimated by gender and public/private sector. Quantile regressions and cohort interactions are also used to capture the heterogeneity in wage returns across the various disciplines. The results show considerable variation in wage premiums across the fields of study, with lower returns for those that have a marginal role to play in an economy with a rising services/shrinking public sector. Educational reforms that pay closer attention to the future prospects of university disciplines are advocated.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 4442.

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Length: 46 pages
Date of creation: Sep 2009
Date of revision:
Publication status: published in: Education Economics, 2010, iFirst published on 24 March 2010
Handle: RePEc:iza:izadps:dp4442

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Keywords: academic disciplines; wage returns; higher education; Greece;

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Cited by:
  1. Regula Geel & Uschi Backes-Gellner, 2010. "Earning While Learning: Labor Market Returns to Student Employment During Tertiary Education," Economics of Education Working Paper Series 0049, University of Zurich, Institute for Strategy and Business Economics (ISU).
  2. Pouliakas, Konstantinos, 2014. "A Balancing Act at Times of Austerity: Matching the Supply and Demand for Skills in the Greek Labour Market," IZA Discussion Papers 7915, Institute for the Study of Labor (IZA).

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