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Cambios en los retornos de la educación en Bogotá entre 1997 y 2003

Author

Listed:
  • Nohora Yulieth Forero Ramírez

    () (Universidad del Rosario)

  • Luis Fernando Gamboa Niño

    () (Universidad del Rosario)

Abstract

This paper estimates the returns to education in Bogotá in 1997 and 2003 by means of Heckman’s maximum likelihood methodology. The analytical framework used is Human Capital Theory. Instead of using the ‘Encuesta Nacional de Hogares’ (National Household Survey), as does current literature, we use the ‘Encuesta de Calidad de Vida’ (Life Quality Survey). We found a reduction after the economic recession (1999) in aspects such as the returns to education and the impact of experience in Bogotá between these years. There are also suggestions about a decrease in the labor income and in the hour-income elasticity

Suggested Citation

  • Nohora Yulieth Forero Ramírez & Luis Fernando Gamboa Niño, 2007. "Cambios en los retornos de la educación en Bogotá entre 1997 y 2003," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 66, pages 225-250, Enero-Jun.
    • Handle: RePEc:lde:journl:y:2007:i:66:p:225-250
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    References listed on IDEAS

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    1. Jhon James Mora, 2003. "Sheepskin effects and screening in Colombia," COLOMBIAN ECONOMIC JOURNAL, UN - RCE - CID, April.
      • Jhon James Mora, 2003. "Sheepskin effects and screening in Colombia," Colombian Economic Journal, Academia Colombiana de Ciencias Economicas, Colegio Mayor de Nuestra Senora del Rosario, Pontificia Universidad Javeriana, Universidad de Antioquia, Universidad de los Andes, Universidad del Valle, Universidad Externado de Colombia, Universidad Nacional de Colombia, vol. 1(1), pages 95-108, December.
    2. Jacob A. Mincer, 1974. "Introduction to "Schooling, Experience, and Earnings"," NBER Chapters,in: Schooling, Experience, and Earnings, pages 1-4 National Bureau of Economic Research, Inc.
    3. Carlos Felipe Prada, 2006. "¿Es rentable la decisión de estudiar en Colombia?," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, vol. 24(51), pages 226-323, June.
    4. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1, June.
    5. Psacharopoulos, George, 1994. "Returns to investment in education: A global update," World Development, Elsevier, vol. 22(9), pages 1325-1343, September.
    6. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
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    Cited by:

    1. Andrés Felipe García-Suaza & Juan Carlos Guataquí & José Alberto Guerra & Darío Maldonado, 2014. "Beyond the Mincer equation: the internal rate of return to higher education in Colombia," Education Economics, Taylor & Francis Journals, vol. 22(3), pages 328-344, June.
    2. Mauricio Quiñones Domínguez & Juan Antonio Rodríguez Sinisterra, 2011. "Rendimiento de la educación en las regiones colombianas: un análisis usando la Descomposición Oaxaca-Blinder," REVISTA SOCIEDAD Y ECONOMIA - CIDSE, UNIVERSIDAD DEL VALLE - CIDSE, August.
    3. Iván Bornacelly, 2013. "Educación técnica y tecnológica para la reducción de la desigualdad salarial y la pobreza," REVISTA DESARROLLO Y SOCIEDAD, UNIVERSIDAD DE LOS ANDES-CEDE, June.

    More about this item

    Keywords

    Mincer equation; returns to education; selection bias; human capital theory;

    JEL classification:

    • C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy

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