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Economic volatility and returns to education in Venezuela : 1992-2002

  • Patrinos, Harry Anthony
  • Sakellariou, Chris

Preliminary evidence suggests that the rates of return to education in Venezuela have been declining since the 1970s. The authors rigorously estimate the returns to education in Venezuela for the period 1992-2002, and link them to earlier available estimates from the 1980s. They use consistent cross-sections from the"Encuesta de Hogares por Muestreo"(Household Survey) to document falling returns to schooling, and educational levels until the mid-1990s, followed by increased returns thereafter. The authors use quantile regression analysis to provide further insight into and within skill group changes in returns over time.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 3459.

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Date of creation: 01 Nov 2004
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Handle: RePEc:wbk:wbrwps:3459
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  1. Philip Trostel & Ian Walker, 2006. "Education and Work," Education Economics, Taylor & Francis Journals, vol. 14(4), pages 377-399.
  2. Pereira, Pedro Telhado & Martins, Pedro Silva, 2000. "Does Education Reduce Wage Inequality? Quantile Regressions Evidence from Fifteen European Countries," FEUNL Working Paper Series wp379, Universidade Nova de Lisboa, Faculdade de Economia.
  3. Kevin Denny & Vincent O'sullivan, 2007. "Can education compensate for low ability? Evidence from British data," Applied Economics Letters, Taylor & Francis Journals, vol. 14(9), pages 657-660.
  4. Schultz, T.P. & Mwabu, G., 1995. "Education Returns Across Quantiles of the Wage Function: Alternative Explanation for Returns to Education by Race in South Africa," Papers 744, Yale - Economic Growth Center.
  5. Chris Sakellariou, 2004. "The use of quantile regressions in estimating gender wage differentials: a case study of the Philippines," Applied Economics, Taylor & Francis Journals, vol. 36(9), pages 1001-1007.
  6. Sourafel Girma & Abbi Kedir, 2003. "Is Education More Benficial to the Less Able? Eocnometric Evidence from Ethiopia," Discussion Papers in Economics 03/1, Department of Economics, University of Leicester.
  7. Fersterer, Josef & Winter-Ebmer, Rudolf, 1999. "Are Austrian Returns to Education Falling Over Time?," IZA Discussion Papers 72, Institute for the Study of Labor (IZA).
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