Efficiency of College Education in the Labor Market of the United States
AbstractThe paper discusses the worthiness of the resources allocated for college education from the point of view of their value in the labor market. We use Data Envelopment Analysis (DEA) to weigh the share of GDP spent on a college education and weighted time of labor force college study against productivity, employment rate, and labor force participation. Based on the data of the United States labor market for the period of 1980 - 2010, we received that the efficiency of a college education had no statistically significant tendency to increase or decrease over the period of the research but was closely related to the business cycles with a lag of one year. JEL Classification:
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Bibliographic InfoPaper provided by University of Connecticut, Department of Economics in its series Working papers with number 2013-22.
Length: 18 pages
Date of creation: Aug 2013
Date of revision:
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Postal: University of Connecticut 341 Mansfield Road, Unit 1063 Storrs, CT 06269-1063
Phone: (860) 486-4889
Fax: (860) 486-4463
Web page: http://www.econ.uconn.edu/
More information through EDIRC
College education; Efficiency; Labor force productivity; Employment rate; Labor force participation; Data Envelopment Analysis;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-09-06 (All new papers)
- NEP-EDU-2013-09-06 (Education)
- NEP-EFF-2013-09-06 (Efficiency & Productivity)
- NEP-LAB-2013-09-06 (Labour Economics)
- NEP-LMA-2013-09-06 (Labor Markets - Supply, Demand, & Wages)
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