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Wage Returns to University Disciplines in Greece: Are Greek Higher Education Degrees Trojan Horses?

Author

Listed:
  • Livanos, Ilias

    (European Centre for the Development of Vocational Training (Cedefop))

  • Pouliakas, Konstantinos

    (European Centre for the Development of Vocational Training (Cedefop))

Abstract

This paper examines the wage returns to qualifications and academic disciplines in the Greek labour market. Exploring wage responsiveness across various degree subjects in Greece is interesting, as it is characterised by high levels of graduate unemployment, which vary considerably by field of study, and relatively low levels of wage flexibility. Using micro-data from recently available waves (2002-2003) of the Greek Labour Force Survey (LFS), the returns to academic disciplines are estimated by gender and public/private sector. Quantile regressions and cohort interactions are also used to capture the heterogeneity in wage returns across the various disciplines. The results show considerable variation in wage premiums across the fields of study, with lower returns for those that have a marginal role to play in an economy with a rising services/shrinking public sector. Educational reforms that pay closer attention to the future prospects of university disciplines are advocated.

Suggested Citation

  • Livanos, Ilias & Pouliakas, Konstantinos, 2009. "Wage Returns to University Disciplines in Greece: Are Greek Higher Education Degrees Trojan Horses?," IZA Discussion Papers 4442, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp4442
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    References listed on IDEAS

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    1. Massimiliano BRATTI & Robin NAYLOR & Jeremy SMITH, 2008. "Heterogeneities in the returns to degrees: evidence from the British cohort study 1970," Departmental Working Papers 2008-40, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    2. Wiji Arulampalam & Alison L. Booth & Mark L. Bryan, 2007. "Is There a Glass Ceiling over Europe? Exploring the Gender Pay Gap across the Wage Distribution," ILR Review, Cornell University, ILR School, vol. 60(2), pages 163-186, January.
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    Cited by:

    1. Regula Geel & Uschi Backes-Gellner, 2010. "Earning While Learning: Labor Market Returns to Student Employment During Tertiary Education," Economics of Education Working Paper Series 0049, University of Zurich, Department of Business Administration (IBW).
    2. Di Paolo, Antonio & Tansel, Aysit, 2017. "Analyzing Wage Differentials by Fields of Study: Evidence from Turkey," GLO Discussion Paper Series 91, Global Labor Organization (GLO).
    3. Harry A Patrinos, 2022. "Returns to Education in Greece: Evidence from the 1977 Labor Market Survey using the Greek Civil War as an Instrument," Economics Bulletin, AccessEcon, vol. 42(1), pages 288-293.
    4. Michael Chletsos & Stelios Roupakias, 2020. "Education and wage inequality before and during the fiscal crisis: A quantile regression analysis for Greece 2006–2016," Review of Development Economics, Wiley Blackwell, vol. 24(4), pages 1333-1364, November.
    5. Di Paolo, Antonio & Tansel, Aysit, 2017. "Analyzing Wage Differentials by Fields of Study: Evidence from Turkey," GLO Discussion Paper Series 91, Global Labor Organization (GLO).
    6. Biscaia, Ricardo & Sá, Carla & Teixeira, Pedro N., 2021. "The (In)effectiveness of regulatory policies in higher education—The case of access policy in Portugal," Economic Analysis and Policy, Elsevier, vol. 72(C), pages 176-185.
    7. Darjan Petek & Timotej Jagric, 2017. "Wage Inequalities: A Result of Different Levels and Fields of Tertiary Education?," Management, University of Primorska, Faculty of Management Koper, vol. 12(1), pages 59-73.
    8. Livanos, Ilias & Pouliakas, Konstantinos, 2009. "The Gender Wage Gap as a Function of Educational Degree Choices in an Occupationally Segregated EU Country," IZA Discussion Papers 4636, Institute of Labor Economics (IZA).
    9. Kountouris, Yiannis, 2020. "Higher education and fertility: Evidence from reforms in Greece," Economics of Education Review, Elsevier, vol. 79(C).
    10. George Agiomirgianakis & Theodore Lianos & Nicholas Tsounis, 2019. "Returns to Investment in Distance Learning: the Case of Greece," International Business Research, Canadian Center of Science and Education, vol. 12(3), pages 94-100, March.
    11. Pouliakas, Konstantinos, 2014. "A Balancing Act at Times of Austerity: Matching the Supply and Demand for Skills in the Greek Labour Market," IZA Discussion Papers 7915, Institute of Labor Economics (IZA).

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    More about this item

    Keywords

    academic disciplines; wage returns; higher education; Greece;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy

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