Education, Work and Wages in the UK
This paper is concerned with the relationship between education, wages and working behaviour. The work is partly motivated by the sharp distinction in the literature between the returns to education and the effect of wages on labour supply. Education is the investment that cumulates in the form of human capital while labour supply is the utilization rate of that stock. Yet, variation in education is usually the basis for identifying labour supply models - education is assumed to determine wages but not affect labour supply. Moreover, it is commonly assumed that the private rate of return to education can be found from the schooling coefficient in a log-wage equation. Yet, the costs of education are largely independent of its subsequent utilization but the benefits will be higher the greater the utilization rate. Thus the returns will depend on how intensively that capital is utilized and we would expect that those who intend to work least to also invest least in human capital. Indeed, the net (of tax liabilities and welfare entitlements) return to education will be a complex function of labour supply and budget constraint considerations. Copyright Verein für Socialpolitik and Blackwell Publishing Ltd. 2005.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 6 (2005)
Issue (Month): 3 (08)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=1465-6485|
More information through EDIRC
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=1465-6485|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Thomas MaCurdy & David Green & Harry Paarsch, 1990. "Assessing Empirical Approaches for Analyzing Taxes and Labor Supply," Journal of Human Resources, University of Wisconsin Press, vol. 25(3), pages 415-490.
- Joseph G. Altonji & Rebecca M. Blank, "undated".
"Race and Gender in the Labor Market,"
IPR working papers
98-18, Institute for Policy Resarch at Northwestern University.
- repec:hoo:wpaper:e-90-11 is not listed on IDEAS
- Pedro Carneiro & James J. Heckman, 2002.
"The Evidence on Credit Constraints in Post-Secondary Schooling,"
NBER Working Papers
9055, National Bureau of Economic Research, Inc.
- Pedro Carneiro & James J. Heckman, 2002. "The Evidence on Credit Constraints in Post--secondary Schooling," Economic Journal, Royal Economic Society, vol. 112(482), pages 705-734, October.
- Carneiro, Pedro & Heckman, James J., 2002. "The Evidence on Credit Constraints in Post-Secondary Schooling," IZA Discussion Papers 518, Institute for the Study of Labor (IZA).
- Richard Blundell & Alan Duncan & Costas Meghir, 1995.
"Estimating labour supply responses using tax reforms,"
IFS Working Papers
W95/07, Institute for Fiscal Studies.
- Richard Blundell & Alan Duncan & Costas Meghir, 1998. "Estimating Labor Supply Responses Using Tax Reforms," Econometrica, Econometric Society, vol. 66(4), pages 827-862, July.
- Kaplan, Greg & Goodman, Alissa & Ian Walker, 2004.
"Understanding The Effects Of Early Motherhood In Britain : The Effects On Mothers,"
The Warwick Economics Research Paper Series (TWERPS)
706, University of Warwick, Department of Economics.
- Alissa Goodman & Greg Kaplan & Ian Walker, 2004. "Understanding the effects of early motherhood in Britain: the effects on mothers," IFS Working Papers W04/20, Institute for Fiscal Studies.
- Kaplan, Greg & Goodman, Alissa & Walker, Ian, 2004. "Understanding the Effects of Early Motherhood in Britain: The Effects on Mothers," IZA Discussion Papers 1131, Institute for the Study of Labor (IZA).
- Barbara Sianesi, 2002. "The returns to education: a review of the empirical macro-economic literature," IFS Working Papers W02/05, Institute for Fiscal Studies.
- Colm Harmon & Hessel Oosterbeek, 2000.
"The Returns to Education: A Review of Evidence, Issues and Deficiencies in the Literature,"
CEE Discussion Papers
0005, Centre for the Economics of Education, LSE.
- Colm Harmon & Hessel Oosterbeek & Ian Walker, 2000. "The returns to education : a review of evidence, issues and deficiencies in the literature," Open Access publications 10197/670, School of Economics, University College Dublin.
- Colm Harmon & Hessel Oosterbeek & Ian Walker, 2002. "The returns to education : a review of evidence, issues and deficiencies in the literature," Open Access publications 10197/1099, School of Economics, University College Dublin.
- A Chevalier & C Harmon & V O'Sullivan & I Walker, 2010.
"The Impact of Parental Income and Education on the Schooling of their Children,"
610852, Lancaster University Management School, Economics Department.
- Chevalier, Arnaud & Harmon, Colm P. & O'Sullivan, Vincent & Walker, Ian, 2005. "The Impact of Parental Income and Education on the Schooling of Their Children," IZA Discussion Papers 1496, Institute for the Study of Labor (IZA).
- Arnaud Chevalier & Colm Harmon & Vincent O'Sullivan & Ian Walker, 2010. "The Impact of Parental Income and Education on the Schooling of their Children," Working Papers 201032, Geary Institute, University College Dublin.
- Arnaud Chevalier & Colm Harmon & Vincent O'Sullivan & Ian Walker, 2005. "The Impact of Parental Income and Education on the Schooling of their Children," Studies in Economics 0504, School of Economics, University of Kent.
- Arnaud Chevalier & Colm Harmon & Vincent O'Sullivan & Ian Walker, 2005. "The impact of parental income and education on the schooling of their children," IFS Working Papers W05/05, Institute for Fiscal Studies.
- Blundell, Richard & Macurdy, Thomas, 1999.
"Labor supply: A review of alternative approaches,"
Handbook of Labor Economics,
in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 27, pages 1559-1695
- Manuel Arellano & Lars Peter Hansen & Enrique Sentana, 2009. "Underidentification? (Resumen)," Working Papers wp2009_0905, CEMFI.
When requesting a correction, please mention this item's handle: RePEc:bla:germec:v:6:y:2005:i:3:p:395-414. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.