How much does education matter and why?
AbstractThis article explores the total (measured and unmeasured) effect of education on different socio-economic outcomes. The analysis shows that the usual regression models typically underestimate the effects of education. The effects of education are decomposed into three sources of variation: courses of study, schools and student composition. Schools do not seem to have a large impact. A significant part of the effect of education stems from differential selection of students into courses of study. However, there is a notable difference between social and economic rewards. Apart from level of education, selectivity and specificity of the course of study turn out to affect the labor market outcomes
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Bibliographic InfoPaper provided by Maastricht University in its series Open Access publications from Maastricht University with number urn:nbn:nl:ui:27-17101.
Date of creation: 2007
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Publication status: Published in European sociological review (2007) v.23, p.65-80
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