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

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Author Info
Livanos, Ilias () (University of Warwick)
Pouliakas, Konstantinos () (University of Aberdeen)

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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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Publisher 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
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Handle: RePEc:iza:izadps:dp4442

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

Other versions of this item:

Find related papers by JEL classification:
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy

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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. George Psacharopoulos, 2003. "The Social Cost of an Outdated Law: Article 16 of the Greek Constitution," European Journal of Law and Economics, Springer, vol. 16(2), pages 123-137, September. [Downloadable!] (restricted)
  2. Blackaby, D H & Murphy, P D & O'Leary, N C, 1999. "Graduate Earnings in Great Britain: A Matter of Degree?," Applied Economics Letters, Taylor and Francis Journals, vol. 6(5), pages 311-15, May. [Downloadable!] (restricted)
  3. 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). [Downloadable!]
  4. Magoula, Theocharoula & Psacharopoulos, George, 1999. "Schooling and Monetary Rewards in Greece: An Over-Education False Alarm?," Applied Economics, Taylor and Francis Journals, vol. 31(12), pages 1589-97, December. [Downloadable!] (restricted)
  5. Blundell, Richard, et al, 2000. "The Returns to Higher Education in Britain: Evidence from a British Cohort," Economic Journal, Royal Economic Society, vol. 110(461), pages F82-99, February. [Downloadable!] (restricted)
  6. Pedro Telhado Pereira & Pedro Silva Martins, 2004. "Returns to education and wage equations," Applied Economics, Taylor and Francis Journals, vol. 36(6), pages 525-531, April. [Downloadable!] (restricted)
    Other versions:
  7. Pouliakas, Konstantinos & Livanos, Ilias, 2008. "The Gender Wage Gap as a Function of Educational Degree Choices in Greece," MPRA Paper 14168, University Library of Munich, Germany, revised 19 Mar 2009. [Downloadable!]
  8. Derek Leslie, 2003. "Using success to measure quality in British higher education: which subjects attract the best-qualified students?," Journal Of The Royal Statistical Society Series A, Royal Statistical Society, vol. 166(3), pages 329-347. [Downloadable!] (restricted)
  9. Yoram Ben-Porath, 1967. "The Production of Human Capital and the Life Cycle of Earnings," Journal of Political Economy, University of Chicago Press, vol. 75, pages 352. [Downloadable!] (restricted)
  10. Kanellopoulos, Costas N, 1997. "Public-Private Wage Differentials in Greece," Applied Economics, Taylor and Francis Journals, vol. 29(8), pages 1023-32, August. [Downloadable!] (restricted)
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