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

  • 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)

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

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Paper provided by Department of Applied Economics at Universitat Autonoma of Barcelona in its series Working Papers with number wpdea9904.

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Length: 24 pages
Date of creation: Apr 1999
Date of revision:
Handle: RePEc:uab:wprdea:wpdea9904
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  1. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
  2. 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.
  3. Orley Ashenfelter & Alan Krueger, 1992. "Estimates of the Economic Return to Schooling from a New Sample of Twins," Working Papers 683, Princeton University, Department of Economics, Industrial Relations Section..
  4. Psacharopoulos, George, 1993. "Returns to investment in education : a global update," Policy Research Working Paper Series 1067, The World Bank.
  5. Hause, John C, 1980. "The Fine Structure of Earnings and the On-the-Job Training Hypothesis," Econometrica, Econometric Society, vol. 48(4), pages 1013-29, May.
  6. Griliches, Zvi, 1977. "Estimating the Returns to Schooling: Some Econometric Problems," Econometrica, Econometric Society, vol. 45(1), pages 1-22, January.
  7. 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.
  8. Weale, Martin, 1993. "A Critical Evaluation of Rate of Return Analysis," Economic Journal, Royal Economic Society, vol. 103(418), pages 729-37, May.
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