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Efficiency of College Education in the Labor Market of the United States

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Author Info

  • William T. Alpert

    (University of Connecticut)

  • Alexander Vaninsky

    (Hostos Community College)

Abstract

The 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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File URL: http://web2.uconn.edu/economics/working/2013-22.pdf
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Bibliographic Info

Paper provided by University of Connecticut, Department of Economics in its series Working papers with number 2013-22.

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Length: 18 pages
Date of creation: Aug 2013
Date of revision:
Handle: RePEc:uct:uconnp:2013-22

Contact details of provider:
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/
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Related research

Keywords: College education; Efficiency; Labor force productivity; Employment rate; Labor force participation; Data Envelopment Analysis;

This paper has been announced in the following NEP Reports:

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  1. Marisa Hidalgo-Hidalgo & Iñigo Iturbe-Ormaetxe, 2012. "Should we transfer resources from college to basic education?," Journal of Economics, Springer, vol. 105(1), pages 1-27, January.
  2. Ahn, Taesik & Charnes, Abraham & Cooper, William W., 1988. "Some statistical and DEA evaluations of relative efficiencies of public and private institutions of higher learning," Socio-Economic Planning Sciences, Elsevier, vol. 22(6), pages 259-269.
  3. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
  4. Kong, Wei-Hsin & Fu, Tsu-Tan, 2012. "Assessing the performance of business colleges in Taiwan using data envelopment analysis and student based value-added performance indicators," Omega, Elsevier, vol. 40(5), pages 541-549.
  5. Kao, Chiang, 1994. "Evaluation of junior colleges of technology: The Taiwan case," European Journal of Operational Research, Elsevier, vol. 72(1), pages 43-51, January.
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