Impact de la formation initiale sur les rémunérations au cours de la vie active
Returns to schooling in terms of discounted income during the working life. The aim of this paper is to estimate the additional income that the men remaining at school one year more can earn. Compared with the traditional literature on the subject, it does not only estimate usual earnings functions from wages data, but it does also estimate the probability of being hired according to education level, and the effect of the selection process of employment on wages. It takes into account the endogeneity of education and experience variables both in wages and employment equations. The fact that education is largely endogenous in wages equations is once more pointed out. As for experience, endogeneity in the employment equation is especially strong. Once corrected various endogeneities, the return to schooling in terms of discounted earnings over the working life period is coming up to 10% by year; it decreases with education level.
Volume (Year): 113 (2003)
Issue (Month): 6 ()
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