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Qualifications, Employment and the Value of Human Capital, 1986-2001

Author

Listed:
  • Hyslop, Dean
  • Mare, David
  • Timmins, Jason

Abstract

This paper summarises the changing nature of qualifications across the working age population in New Zealand over the period from 1986 to 2001, and investigates the relationships between the changing qualification distribution and employment and income. First, the results confirm that there was a general upskilling of the population, as measured by formal educational qualifications. Second, we examine patterns of qualification change and employment growth measured in job groups, and find that the upskilling of the population occurred across a wide range of job-groups. Also, although the results show the employment growth was strongest in job-groups with high initial levels of skilled workers, employment growth is only weakly related to upskilling. Third, we decompose the change in the value of human capital into contributions due to changes in the qualification mix, changes in the (economic) returns to qualifications, and the interaction between these two factors. The value of human capital increased by 20% over the period: about 75% of this increase can be attributed to increasing incomes holding constant the mix of qualifications, 15-20% to an increasing skill mix, and the residual to interaction effects.

Suggested Citation

  • Hyslop, Dean & Mare, David & Timmins, Jason, 2003. "Qualifications, Employment and the Value of Human Capital, 1986-2001," Motu Working Papers 293015, Motu Economic and Public Policy Research.
    • Handle: RePEc:ags:motuwp:293015
    DOI: 10.22004/ag.econ.293015
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    Cited by:

    1. is not listed on IDEAS
    2. Sid Durbin, 2004. "Review of Workplace Skills, Technology Adoption and Firm Productivity: A Review," Treasury Working Paper Series 04/16, New Zealand Treasury.
    3. Niven Winchester, 2008. "Searching for the Smoking Gun: Did Trade Hurt Unskilled Workers?," The Economic Record, The Economic Society of Australia, vol. 84(265), pages 141-156, June.
    4. Dean Hyslop & Dave Maré, 2009. "Skill Upgrading in New Zealand, 1986–2001," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 42(4), pages 422-434, December.
    5. Geoff Mason & Matthew Osborne, 2007. "Productivity, Capital-Intensity and Labour Quality at Sector Level in New Zealand and the UK," Treasury Working Paper Series 07/01, New Zealand Treasury.

    More about this item

    Keywords

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    JEL classification:

    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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