Una valoración de la enseñanza superior a partir de los salarios esperados y los salarios sombra de los estudiantes universitarios
AbstractIn this paper we provide evidence on the economic assessment of university education using Spanish university students’ statements about their wage expectations when they finish university and about their shadow wage or permanent minimum wage necessary to induce them to quit university. For that purpose, and given the qualitative nature or the declared wages, ordered response models are estimated. In order to allow that the quality of information differs depending on the student’s academic year, the estimation is done by course year based subsamples. The expected wages predicted by the model are very similar for both genders and, as a reflection of the improvement in information during the academic cycle, these wages get closer to the ones observed at the most advanced courses. With respect to shadow wages, predictions based on the model show that they are higher for students in the last years of the degree, when the opportunity cost of quitting is higher. Also, we find greater shadow wages for females than for males, even though the observed wages are substantially lower for women. This last result is in agreement with the higher relative return on university education in case of women, which is reflected by the higher propensity of women to invest in this kind of education.
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Bibliographic InfoPaper provided by Universidad Carlos III de Madrid in its series Open Access publications from Universidad Carlos III de Madrid with number info:hdl:10016/5464.
Length: 40 p.
Date of creation: 2007
Date of revision:
Publication status: Published in Cuadernos Económicos de ICE (2007) v.v. 74, p.11-38
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Web page: http://www.uc3m.es
Economic assessment of university education; Wage expectations; Shadow wages;
Find related papers by JEL classification:
- I23 - Health, Education, and Welfare - - Education - - - Higher Education and Research Institutions
- 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
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- Cesar Alonso-Borrego & Antonio Romero-Medina, 2010.
"Wage expectations for higher education students in Spain,"
Economics Working Papers
we1016, Universidad Carlos III, Departamento de Economía.
- César Alonso-Borrego & Antonio Romero-Medina, 2008. "Students' assessment of higher education in Spain," Economics Working Papers we084823, Universidad Carlos III, Departamento de Economía.
- César Alonso-Borrego & Antonio Romero-Medina, 2008. "Students’ Assessment of Higher Education in Spain," Working Papers 2008-31, FEDEA.
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