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Not All University Degrees Yield the Same Return: Private and Social Returns to Higher Education for Males in Spain

Author

Listed:
  • Xavier Ramos Morilla

    () (Departament d'Economia Aplicada, Universitat Autonoma de Barcelona)

  • Josep Lluís Raymond Bara

    () (Departament d'Economia Aplicada, Universitat Autonoma de Barcelona)

  • Josep Oliver Alonso

    () (Departament d'Economia Aplicada, Universitat Autonoma de Barcelona)

Abstract

In this paper we use micro data from the Spanish Family Expenditure Survey for 1990 to estimate, for the first time, the private and social rates of return of different university degrees in Spain. We compute internal rates of return and include investment on higher education financed by the public purse to estimate social rates of return. Our main finding is that, as presumed, there is large heterogeneity in rates of return amongst different university

Suggested Citation

  • Xavier Ramos Morilla & Josep Lluís Raymond Bara & Josep Oliver Alonso, 1999. "Not All University Degrees Yield the Same Return: Private and Social Returns to Higher Education for Males in Spain," Working Papers wpdea9904, Department of Applied Economics at Universitat Autonoma of Barcelona.
  • Handle: RePEc:uab:wprdea:wpdea9904
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    File URL: http://www.ecap.uab.es/RePEc/doc/wpdea9904.pdf
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    References listed on IDEAS

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    1. David Card, 1994. "Earnings, Schooling, and Ability Revisited," Working Papers 710, Princeton University, Department of Economics, Industrial Relations Section..
    2. Weale, Martin, 1993. "A Critical Evaluation of Rate of Return Analysis," Economic Journal, Royal Economic Society, vol. 103(418), pages 729-737, May.
    3. Psacharopoulos, George, 1994. "Returns to investment in education: A global update," World Development, Elsevier, vol. 22(9), pages 1325-1343, September.
    4. Hause, John C, 1980. "The Fine Structure of Earnings and the On-the-Job Training Hypothesis," Econometrica, Econometric Society, vol. 48(4), pages 1013-1029, May.
    5. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
    6. Mcmahon, Walter W., 1991. "Relative returns to human and physical capital in the U.S. and efficient investment strategies," Economics of Education Review, Elsevier, vol. 10(4), pages 283-296, December.
    7. Ashenfelter, Orley & Krueger, Alan B, 1994. "Estimates of the Economic Returns to Schooling from a New Sample of Twins," American Economic Review, American Economic Association, vol. 84(5), pages 1157-1173, December.
    8. Griliches, Zvi, 1977. "Estimating the Returns to Schooling: Some Econometric Problems," Econometrica, Econometric Society, vol. 45(1), pages 1-22, January.
    9. Alba-Ramirez, Alfonso & San Segundo, Maria Jesus, 1995. "The returns to education in Spain," Economics of Education Review, Elsevier, vol. 14(2), pages 155-166, June.
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    Cited by:

    1. Josep Oliver Alonso & José Luís Raymond Bara & Hector Sala Lorda, 2001. "Necesidad de formación en el mercado de trabajo español: composición del empleo y estructura productiva," Working Papers wp0117, Department of Applied Economics at Universitat Autonoma of Barcelona.

    More about this item

    JEL classification:

    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand

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