Determinants of the wage rates in Greece with an emphasis on the wages of tertiary education graduates
The paper examines the determinants of hourly wages in the Greek labour market, with emphasis on education- and experience-related variables, using the information of the 2004-2007 Labour Force Surveys. The results are in line with the predictions of human capital theory and show that, ceteris paribus, education is associated with higher earnings. However, substantial differences are observed within groups of workers with relatively similar educational qualifications and, in particular, within the group of tertiary education graduates. Despite the fact that some of these differences can be attributed to differences in the numbers of years of study required for particular degrees, they translate into widely different private internal rates of return for specific groups of graduates. Nevertheless, these rates cannot be used for the design of public policies, since social rather that private rates of returns should guide such policies.
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.:
- Panayiotis P. Athanasoglou & Sophocles N. Brissimis, 2004. "The effect of mergers and acquisitions on bank efficiency in Greece," Economic Bulletin, Bank of Greece, issue 22, pages 7-31, January.
- Grier, Kevin B. & Tullock, Gordon, 1989. "An empirical analysis of cross-national economic growth, 1951-1980," Journal of Monetary Economics, Elsevier, vol. 24(2), pages 259-276, September.
- Theodoros S. Papaspyrou, 2004. "EMU strategies for new Member States: the role of Exchange Rate Mechanism II," Economic Bulletin, Bank of Greece, issue 23, pages 7-25, July.
- Christos Papazoglou, 2009. "Is Greece's export performance really low?," Economic Bulletin, Bank of Greece, issue 32, pages 27-37, May.
- Panayiotis Kapopoulos & Sophia Lazaretou, 2007. "Foreign bank presence: the experience of South-East European countries during the transition process," Economic Bulletin, Bank of Greece, issue 29, pages 7-35, October.
- Asimakopoulos, Ioannis & Athanasoglou, Panayiotis & Siriopoulos, Konstantinos, 2006. "External financing, growth and capital structure," MPRA Paper 16451, University Library of Munich, Germany.
- Nikos G. Zonzilos & Zacharias G. Bragoudakis & Georgia I. Pavlou, 2009. "An analysis of the reliability of first (flash) quarterly national account data releases for Greece," Economic Bulletin, Bank of Greece, issue 32, pages 39-51, May.
- Theodore M. Mitrakos & Georgios Th Simigiannis & Panagiota G. Tzamourani, 2005. "Indebtedness of Greek households: evidence from a survey," Economic Bulletin, Bank of Greece, issue 25, pages 13-35, AUgust.
- George Katsimbris & Stephen Miller, 1996. "The new Keynesian economics and the output-inflation trade-off," Applied Economics Letters, Taylor & Francis Journals, vol. 3(9), pages 599-602.
- Heather D. Gibson, 2005. "Greek Banking Profitability: recent developments," Economic Bulletin, Bank of Greece, issue 24, pages 7-25, January.
- Sophocles N. Brissimis & Thomas Vlassopoulos, 2007. "Determinants of bank interest rates and comparisons between Greece and the euro area," Economic Bulletin, Bank of Greece, issue 28, pages 7-30, February.
- Ioannis Theodosiou & Konstantinos Pouliakas, 2005. "Socio-economic differences in the job satisfaction of high-paid and low-paid workers in Greece," Economic Bulletin, Bank of Greece, issue 24, pages 83-115, January.
- Theodore M. Mitrakos & Nicholas G. Zonzilos, 2006. "The impact of exogenous shocks on the dynamics and persistence of inflation: a macroeconomic model-based approach for Greece," Economic Bulletin, Bank of Greece, issue 26, pages 37-57, January.
- Asimakopoulos G. Ioannis & Brissimis N. Sophocles & Delis D. Manthos, 2008. "The Efficiency of the Greek Banking System and its Determinants," Economic Bulletin, Bank of Greece, issue 30, pages 7-27, May.
- Balfoussia Hiona, 2008. "Stock market integration-the athens exchange in the european financial market," Economic Bulletin, Bank of Greece, issue 30, pages 29-55, May.
- George T. Simigiannis & Panagiota G. Tzamourani, 2007. "Borrowing and socio-economic characteristics of households: results of sample surveys carried out by the Bank of Greece," Economic Bulletin, Bank of Greece, issue 28, pages 31-50, February.
- Petros M Migiakis, 2010. "Determinants of the Greek stock-bond correlation," Economic Bulletin, Bank of Greece, issue 33, pages 79-90, May.
- Panayiotis P. Athanasoglou & Ioannis G. Asimakopoulos & Evangelia A. Georgiou, 2005. "The effect of merger and acquisition announcement on Greek bank stock returns," Economic Bulletin, Bank of Greece, issue 24, pages 27-44, January.
- Hiona Balfoussia & Heather Gibson, 2010. "Inflation and Nominal Uncertainty: the case of Greece," Economic Bulletin, Bank of Greece, issue 33, pages 63-78, May.
- Sofia Lazaretou, 2004. "Monetary System and Macroeconomic Policy in Greece, 1833-2003," Economic Bulletin, Bank of Greece, issue 22, pages 33-65, January.
- Maria K. Albani & Nicholas G. Zonzilos & Zacharias G. Bragoudakis, 2007. "An operational framework for the short-term forecasting of inflation," Economic Bulletin, Bank of Greece, issue 29, pages 89-106, October.
- A. Sandmo, 1970. "The Effect of Uncertainty on Saving Decisions," Review of Economic Studies, Oxford University Press, vol. 37(3), pages 353-360.
- Zakoian, Jean-Michel, 1994. "Threshold heteroskedastic models," Journal of Economic Dynamics and Control, Elsevier, vol. 18(5), pages 931-955, September.
- Gibson, Heather D. & Lazaretou, Sophia, 2001. "Leading inflation indicators for Greece," Economic Modelling, Elsevier, vol. 18(3), pages 325-348, August.
- Kevin B. Grier & Mark J. Perry, 2000. "The effects of real and nominal uncertainty on inflation and output growth: some garch-m evidence," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(1), pages 45-58.
When requesting a correction, please mention this item's handle: RePEc:bog:econbl:y:2010:i:34:p:. 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: (Christina Tsochatzi)
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.