Measuring the Returns to Lifelong Learning
This paper investigates the returns to lifelong learning, which is interpreted as the attainment of qualifications following entry into the labour market. For a number of reasons our analysis of the British Household Panel Survey (BHPS) represents an important addition to the existing evidence base. We allow for financial and non-financial returns to lifelong learning by using as dependent variables both (i) hourly earnings and (ii) CAMSIS score. A fixed effects specification counters the potential biases that arise from unobserved individual heterogeneity and the inclusion of lags allows estimation of how the returns to lifelong learning evolve over a ten year period after the qualification is obtained. We find evidence of earnings and occupation status returns using a broad categorisation of lifelong learning for both men and women, but more variability in returns when disaggregated NVQ-equivalent categories of qualification are considered. Our findings are broadly in line with existing evidence within the UK, which is mostly based on the analysis of cohort studies. 0f particular interest is the finding that returns to women materialise much sooner after the attainment of a qualification, than is the case for their male counterparts.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Alison L. Booth & Marco Francesconi & Gylfi Zoega, 2003.
"Unions, Work-Related Training, and Wages: Evidence for British Men,"
Cornell University, ILR School, vol. 57(1), pages 68-91, October.
- Booth, Alison L. & Francesconi, Marco & Zoega, Gylfi, 2003. "Unions, Work-Related Training, and Wages: Evidence for British Men," IZA Discussion Papers 737, Institute for the Study of Labor (IZA).
- Anna Vignoles & Augustin de Coulon, 2008. "An Analysis of the Benefit of NVQ2 Qualifications Acquired at Age 26-34," CEE Discussion Papers 0106, Centre for the Economics of Education, LSE.
- Kane, Thomas J & Rouse, Cecilia Elena, 1995. "Labor-Market Returns to Two- and Four-Year College," American Economic Review, American Economic Association, vol. 85(3), pages 600-614, June.
- George Psacharopoulos & Harry Anthony Patrinos, 2004. "Returns to investment in education: a further update," Education Economics, Taylor & Francis Journals, vol. 12(2), pages 111-134.
- Psacharopoulos, George & Patrinos, Harry Anthony, 2002. "Returns to investment in education : a further update," Policy Research Working Paper Series 2881, The World Bank.
- Stevens, Margaret, 2001. "Should Firms Be Required to Pay for Vocational Training?," Economic Journal, Royal Economic Society, vol. 111(473), pages 485-505, July.
- Stevens, Margaret, 1999. "Should Firms be Required to Pay for Vocational Training?," CEPR Discussion Papers 2099, C.E.P.R. Discussion Papers.
- Stevens, M., 1999. "Should Firms be Required to Pay for Vocational Training?," Economics Papers 1999-w4, Economics Group, Nuffield College, University of Oxford.
- Dearden, Lorraine, et al, 2002. "The Returns to Academic and Vocational Qualifications in Britain," Bulletin of Economic Research, Wiley Blackwell, vol. 54(3), pages 249-274, July.
- Lorraine Dearden & Steven McIntosh & Michal Myck & Anna Vignoles, 2000. "The Returns to Academic and Vocational Qualifications in Britain," CEE Discussion Papers 0004, Centre for the Economics of Education, LSE.
- Stenberg, Anders & Westerlund, Olle, 2008. "Does comprehensive education work for the long-term unemployed," Labour Economics, Elsevier, vol. 15(1), pages 54-67, February.
- Stenberg, Anders & Westerlund, Olle, 2004. "Does Comprehensive Education Work for the Long-term Unemployed?," Umeå Economic Studies 641, Umeå University, Department of Economics.
- Yoram Ben-Porath, 1967. "The Production of Human Capital and the Life Cycle of Earnings," Journal of Political Economy, University of Chicago Press, vol. 75, pages 352-352.
- Lorraine Dearden & Leslie McGranahan & Barbara Sianesi, 2004. "An In-Depth Analysis of the Returns to National Vocational Qualifications Obtained at level 2," CEE Discussion Papers 0046, Centre for the Economics of Education, LSE.
- Charley Greenwood & Andrew Jenkins & Anna Vignoles, 2007. "The Returns to Qualifications in England: Updating the Evidence Base on Level 2 and Level 3 Vocational Qualifications," CEE Discussion Papers 0089, Centre for the Economics of Education, LSE.
- Theodore W. Schultz, 1960. "Capital Formation by Education," Journal of Political Economy, University of Chicago Press, vol. 68, pages 571-571.
- Bassanini, Andrea & Booth, Alison L. & Brunello, Giorgio & De Paola, Maria & Leuven, Edwin, 2005. "Workplace Training in Europe," IZA Discussion Papers 1640, Institute for the Study of Labor (IZA).