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Cohort effects and the returns to education in West Germany

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Author Info
Boockmann, Bernhard
Steiner, Viktor

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Abstract

Using a Mincer-type wage function, we estimate cohort effects in the returns to education for West German workers born between 1925 and 1974. The main problem to be tackled in the specification is to separately identify cohort, experience, and possibly also age effects in the returns. For women, we find a large and robust decline in schooling premia: in the private sector, the returns to a further year of post-compulsory education fell from twelve per cent for the 1945-49 cohort to about seven per cent for those born in the early 1970s. Cohort effects in men?s returns to education are less obvious, but we do find evidence that they, too, have declined. We conclude by identifying possible reasons for the decline.

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Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 00-05.

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Date of creation: 2000
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Handle: RePEc:zbw:zewdip:5281

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Related research
Keywords: returns to education; cohort effects; population ageing;

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Find related papers by JEL classification:
J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

References listed on IDEAS
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  1. Diane Macunovich, 1999. "The Fortune of One's Birth: Relative Cohort Size and the Youth Labor Market in the United States," Center for Policy Research Working Papers 6, Center for Policy Research, Maxwell School, Syracuse University. [Downloadable!]
  2. David Card & Thomas Lemieux, 2000. "Can Falling Supply Explain the Rising Return to College for Younger Men? A Cohort-Based Analysis," NBER Working Papers 7655, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  3. Dustmann, Christian & van Soest, Arthur, 1998. "Public and private sector wages of male workers in Germany," European Economic Review, Elsevier, vol. 42(8), pages 1417-1441, September. [Downloadable!] (restricted)
    Other versions:
  4. Finis Welch, 1979. "Effects of Cohort Size on Earnings: The Baby Boom Babies' Financial Bust," UCLA Economics Working Papers 146, UCLA Department of Economics. [Downloadable!]
  5. Richard B. Freeman, 1980. "The Effect of Demographic Factors on Age-Earnings Profiles," NBER Working Papers 0316, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  6. Diane J. Macunovich, 1999. "The fortunes of one's birth: Relative cohort size and the youth labor market in the United States," Journal of Population Economics, Springer, vol. 12(2), pages 215-272. [Downloadable!] (restricted)
  7. Stapleton, David C & Young, Douglas J, 1988. "Educational Attainment and Cohort Size," Journal of Labor Economics, University of Chicago Press, vol. 6(3), pages 330-61, July. [Downloadable!] (restricted)
  8. Zimmermann, Klaus F, 1991. "Ageing and the Labor Market: Age Structure, Cohort Size and Unemployment," Journal of Population Economics, Springer, vol. 4(3), pages 177-200, August.
  9. Welch, Finis, 1979. "Effects of Cohort Size on Earnings: The Baby Boom Babies' Financial Bust," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages S65-97, October. [Downloadable!] (restricted)
  10. Lauer, Charlotte & Steiner, Viktor, 2000. "Returns to education in West Germany : an empirical assessment," ZEW Discussion Papers 00-04, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  11. Card, David, 1999. "The causal effect of education on earnings," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 30, pages 1801-1863 Elsevier. [Downloadable!] (restricted)
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  1. Guido Heineck & Regina T. Riphahn, 2007. "Intergenerational Transmission of Educational Attainment in Germany: The Last Five Decades," SOEPpapers 37, DIW Berlin, The German Socio-Economic Panel (SOEP). [Downloadable!]
    Other versions:
  2. Hübler, Olaf, 2003. "Geschlechtsspezifische Lohnunterschiede (Gender-specific wage differentials)," Mitteilungen aus der Arbeitsmarkt- und Berufsforschung, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 36(4), pages 539-559. [Downloadable!]
  3. Puhani, Patrick A., 2001. "Wage Rigidities in Western Germany? Microeconometric Evidence from the 1990s," IRISS Working Paper Series 2001-07, IRISS at CEPS/INSTEAD. [Downloadable!]
    Other versions:
  4. Daniela Glocker & Viktor Steiner, 2007. "Self-Employment - a Way to End Unemployment?: Empirical Evidence from German Pseudo-Panel Data," Discussion Papers of DIW Berlin 661, DIW Berlin, German Institute for Economic Research. [Downloadable!]
    Other versions:
  5. Robert Fenge & Silke Uebelmesser & Martin Werding, 2002. "Second-best Properties of Implicit Social Security Taxes: Theory and Empirical Evidence," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  6. Myck, Michal & Nicinska, Anna & Morawski, Leszek, 2009. "Count Your Hours: Returns to Education in Poland," IZA Discussion Papers 4332, Institute for the Study of Labor (IZA). [Downloadable!]
  7. Claudio Sapelli., 2009. "Los Retornos a la Educación en Chile: Estimaciones por Corte Transversal y por Cohortes," Documentos de Trabajo 349, Instituto de Economía. Pontificia Universidad Católica de Chile.. [Downloadable!]
  8. Bernd Fitzenberger & Karsten Kohn, 2006. "Skill Wage Premia, Employment, and Cohort Effects: Are Workers in Germany All of the Same Type?," IZA Discussion Papers 2185, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  9. Kathrin Göggel, 2007. "Sinkende Bildungsrenditen durch Bildungsreformen?: Evidenz aus Mikrozensus und SOEP," SOEPpapers 11, DIW Berlin, The German Socio-Economic Panel (SOEP). [Downloadable!]
  10. Michal Myck, 2007. "Wages and Ageing: Is There Evidence for the "Inverse-U" Profile?," IZA Discussion Papers 2983, Institute for the Study of Labor (IZA). [Downloadable!]
  11. Michael Gebel & Friedhelm Pfeiffer, 2007. "Educational Expansion and Its Heterogeneous Returns for Wage Workers," SOEPpapers 13, DIW Berlin, The German Socio-Economic Panel (SOEP). [Downloadable!]
  12. Fitzenberger, Bernd & Wunderlich, Gaby, 2000. "Gender wage differences in West Germany : a cohort analysis," ZEW Discussion Papers 00-48, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  13. Göggel, Kathrin, 2007. "Sinkende Bildungsrenditen durch Bildungsreformen? Evidenz aus Mikrozensus und SOEP," ZEW Discussion Papers 07-017, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  14. Gebel, Michael & Pfeiffer, Friedhelm, 2007. "Educational expansion and its heterogeneous returns for wage workers," ZEW Discussion Papers 07-010, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
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