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The Wage Expectations of European Business and Economics Students

  • Giorgio Brunello
  • Claudio Lucifora
  • Rudolf Winter-Ebmer

Expected earnings and expected returns to education are seen by labor economists as a major determinant of educational attainment. In spite of this, the empirical knowledge about expectations and their formation is scarce. In this paper we report the results of the first systematic study of the wage expectations of European university students. Our data are based on a uniform questionnaire answered by about 3,000 business and economics university students across Europe. We study the determinants of wage expectations and expected employment probabilities, the variability of these expectations and their variation across countries and universities. We also examine the tradeoff between expected starting wages and expected wage growth.

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File URL: http://jhr.uwpress.org/cgi/reprint/XXXIX/4/1116
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Article provided by University of Wisconsin Press in its journal Journal of Human Resources.

Volume (Year): 39 (2004)
Issue (Month): 4 ()
Pages:

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Handle: RePEc:uwp:jhriss:v:39:y:2004:i:4:p1116-1142
Contact details of provider: Web page: http://jhr.uwpress.org/

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  1. Joseph G. Altonji, 1991. "The Demand for and Return to Education When Education Outcomes are Uncertain," NBER Working Papers 3714, National Bureau of Economic Research, Inc.
  2. Heckman, James J., 2000. "Policies to foster human capital," Research in Economics, Elsevier, vol. 54(1), pages 3-56, March.
  3. Jonathan S. Leonard, 1980. "Wage Expectations in the Labor Market: Survey Evidence on Rationality," NBER Working Papers 0440, National Bureau of Economic Research, Inc.
  4. Moulton, Brent R, 1990. "An Illustration of a Pitfall in Estimating the Effects of Aggregate Variables on Micro Unit," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 334-38, May.
  5. Nickell, Stephen & Bell, Brian, 1995. "The Collapse in Demand for the Unskilled and Unemployment across the OECD," Oxford Review of Economic Policy, Oxford University Press, vol. 11(1), pages 40-62, Spring.
  6. Kunze, Astrid, 2002. "The Evolution of the Early Career Gender Wage Gap," IZA Discussion Papers 436, Institute for the Study of Labor (IZA).
  7. Julian R. Betts, 1996. "What Do Students Know about Wages? Evidence from a Survey of Undergraduates," Journal of Human Resources, University of Wisconsin Press, vol. 31(1), pages 27-56.
  8. Epple, Dennis & Romano, Richard E, 1998. "Competition between Private and Public Schools, Vouchers, and Peer-Group Effects," American Economic Review, American Economic Association, vol. 88(1), pages 33-62, March.
  9. Dolton, P J & Makepeace, G H, 1986. "Sample Selection and Male-Female Earnings Differentials in the Graduate Labour Market," Oxford Economic Papers, Oxford University Press, vol. 38(2), pages 317-41, July.
  10. Nickell, Stephen, 1979. "Education and Lifetime Patterns of Unemployment," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages S117-31, October.
  11. Carvajal, Manuel J. & Bendana, David & Bozorgmanesh, Alireza & Castillo, Miguel A. & Pourmasiha, Katayoun & Rao, Priya & Torres, Juan A., 2000. "Inter-gender differentials between college students' earnings expectations and the experience of recent graduates," Economics of Education Review, Elsevier, vol. 19(3), pages 229-243, June.
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