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Economic Benefits of Lifelong Learning

Listed author(s):
  • Dr Richard Dorsett

    ()

  • Dr Silvia Lui

    ()

  • Dr Martin Weale

    ()

This paper examines the effect of lifelong learning on men's employment and wages. Using data from the British Household Panel Survey, a variant of the mover-stayer model is developed in which hourly wages are either taken from a stationary distribution (movers) or are closely related to the hourly wage one year earlier (stayers). Mover-stayer status is not observed and we therefore model wages using an endogenous switching regression, extended to take account of non random selection into employment. The model is estimated by maximum likelihood, using generalised residuals to correct for possible endogeneity of lifelong learning decisions. The results show modest effects significant at a 10% level for men who undertake life-long learning without upgrading their educational status and more powerful and significant effects for those who do upgrade their status. For the latter, the influence of lifelong learning on employment prospects is an important influence on the overall return.

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File URL: http://www.niesr.ac.uk/sites/default/files/publications/dp352.pdf
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Paper provided by National Institute of Economic and Social Research in its series NIESR Discussion Papers with number 352.

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Date of creation: Mar 2010
Handle: RePEc:nsr:niesrd:2588
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Web page: http://niesr.ac.uk

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  1. Ferrer, Ana M. & Menendez, Alicia, 2009. "The Returns to Flexible Postsecondary Education: The Effect of Delaying School," CLSSRN working papers clsrn_admin-2009-26, Vancouver School of Economics, revised 15 Mar 2009.
  2. Lorenzo Cappellari & Stephen P. Jenkins, 2008. "Estimating low pay transition probabilities accounting for endogenous selection mechanisms," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 57(2), pages 165-186.
  3. Kim, C.-J.Chang-Jin, 2004. "Markov-switching models with endogenous explanatory variables," Journal of Econometrics, Elsevier, vol. 122(1), pages 127-136, September.
  4. Bertil Holmlund & Qian Liu & Oskar Nordström Skans, 2008. "Mind the gap? Estimating the effects of postponing higher education," Oxford Economic Papers, Oxford University Press, vol. 60(4), pages 683-710, October.
  5. Shawn W. Ulrick, 2008. "Using semi-parametric methods in an analysis of earnings mobility," Econometrics Journal, Royal Economic Society, vol. 11(3), pages 478-498, November.
  6. Dickens, Richard, 2000. "The Evolution of Individual Male Earnings in Great Britain: 1975-95," Economic Journal, Royal Economic Society, vol. 110(460), pages 27-49, January.
  7. Costas Meghir & Luigi Pistaferri, 2004. "Income Variance Dynamics and Heterogeneity," Econometrica, Econometric Society, vol. 72(1), pages 1-32, January.
  8. Kim, Chang-Jin & Piger, Jeremy & Startz, Richard, 2008. "Estimation of Markov regime-switching regression models with endogenous switching," Journal of Econometrics, Elsevier, vol. 143(2), pages 263-273, April.
  9. Jayasri Dutta & J. A. Sefton & M. R. WEALE, 2001. "Income distribution and income dynamics in the United Kingdom," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(5), pages 599-617.
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