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Estimating wage equations for Hungarian higher-education graduates

  • Peter Galasi

    ()

    (Budapest University of Economics and Public Administration)

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    The paper investigates the wage determination of Hungarian highereducation graduates with using two samples of Hungarian careerbeginners, applying IV techniques and the multiple indicator solution so as to diminish potential estimation biases due to endogeneity of independent variables (especially the education variable) and the simultaneity of wages and working time. The results show that university education yields considerable wage premium as compared to college education, and that the return to education would be significantly underestimated by ols. The estimates confirm that foreign-language and IT knowledge also produce advantages in terms of wages.

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    File URL: http://www.econ.core.hu/doc/bwp/bwp/bwp0304.pdf
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    Paper provided by Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences in its series Budapest Working Papers on the Labour Market with number 0304.

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    Length: 39 pages
    Date of creation: May 2003
    Date of revision:
    Handle: RePEc:has:bworkp:0304
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    1. Jennifer Hunt, 1997. "The Transition in East Germany: When is a Ten Point Fall in the Gender Wage Gap Bad News?," Discussion Papers of DIW Berlin 156, DIW Berlin, German Institute for Economic Research.
    2. Peter Galasi & Julia Varga, 2002. "Does Private and Cost-Priced Higher Education Produce Poor Quality?," Budapest Working Papers on the Labour Market 0201, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
    3. Trostel, Philip & Walker, Ian & Woolley, Paul, 2002. "Estimates of the economic return to schooling for 28 countries," Labour Economics, Elsevier, vol. 9(1), pages 1-16, February.
    4. van Smoorenburg, M. S. M. & van der Velden, R. K. W., 2000. "The training of school-leavers: Complementarity or substitution?," Economics of Education Review, Elsevier, vol. 19(2), pages 207-217, April.
    5. Kertesi, Gábor & Köllő, János, 1997. "Reálbérek és kereseti egyenlőtlenségek, 1986-1996. A bérszerkezet átalakulása Magyarországon, I. rész
      [Real wages and earning inequalities, 1986-1996. Part I. The transformation of wage structure i
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 612-634.
    6. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January.
    7. Callan, T. & Harmon, C.P., 1997. "The Economic Return to Schooling in Ireland," Papers 97/23, College Dublin, Department of Political Economy-.
    8. David Card, 2000. "Estimating the Return to Schooling: Progress on Some Persistent Econometric Problems," NBER Working Papers 7769, National Bureau of Economic Research, Inc.
    9. Brunello, Giorgio & Miniaci, Raffaele, 1999. "The economic returns to schooling for Italian men. An evaluation based on instrumental variables1," Labour Economics, Elsevier, vol. 6(4), pages 509-519, November.
    10. Light, Audrey, 2001. "In-School Work Experience and the Returns to Schooling," Journal of Labor Economics, University of Chicago Press, vol. 19(1), pages 65-93, January.
    11. Bound, John & Solon, Gary, 1999. "Double trouble: on the value of twins-based estimation of the return to schooling," Economics of Education Review, Elsevier, vol. 18(2), pages 169-182, April.
    12. Filer, Randall K. & Jurajda, Stepan & Planovsky, Jan, 1999. "Education and wages in the Czech and Slovak Republics during transition," Labour Economics, Elsevier, vol. 6(4), pages 581-593, November.
    13. Elizabeth Brainerd, 2000. "Women in transition: Changes in gender wage differentials in Eastern Europe and the former Soviet Union," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 54(1), pages 138-162, October.
    14. Bedi, Arjun S. & Gaston, Noel, 1999. "Using variation in schooling availability to estimate educational returns for Honduras," Economics of Education Review, Elsevier, vol. 18(1), pages 107-116, February.
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