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The private net present value and private internal rate of return to becoming a nurse in Great Britain

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  • Stephen Morris
  • Alistair McGuire

Abstract

The private net present value and private internal rate of return to becoming a nurse in Great Britain is estimated. The calculations are made using the standard equations inputted with data from the New Earnings Survey and the British Household Panel Survey. Basic age-earnings profiles are adjusted for mortality, unemployment, other causes of economic inactivity, and discontinuation from training. The conclusions are that: (1) there is a high private internal rate of return to becoming a nurse in Great Britain relative to other occupations; (2) using the internal rate of return criterion is inappropriate when there exists a crossover marginal time preference rate, which is shown to be the case here; and, (3) using the net present value criterion there are net financial benefits to becoming a nurse in Great Britain for individuals with a marginal time preference rate of 8-13% or more.

Suggested Citation

  • Stephen Morris & Alistair McGuire, 2002. "The private net present value and private internal rate of return to becoming a nurse in Great Britain," Applied Economics, Taylor & Francis Journals, vol. 34(17), pages 2189-2200.
  • Handle: RePEc:taf:applec:v:34:y:2002:i:17:p:2189-2200
    DOI: 10.1080/00036840210139328
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    References listed on IDEAS

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    1. Sugden, Robert & Williams, Alan, 1978. "The Principles of Practical Cost-Benefit Analysis," OUP Catalogue, Oxford University Press, number 9780198770411.
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    Cited by:

    1. Paul Frijters & Michael A. Shields & Stephen Wheatley Price, 2007. "Investigating the quitting decision of nurses: panel data evidence from the british national health service," Health Economics, John Wiley & Sons, Ltd., vol. 16(1), pages 57-73.

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