Download or read book The Distribution of Returns to Education written by Anne-Charlotte Souto and published by . This book was released on 2019 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this work, we revisit the traditional human capital framework and infer that risk as measured by the shape of the returns to education's distributions should be included. While education is often considered to be an investment good, human capital models often ignore the impact of risk on education investment decisions. This thesis has two aims. First, we want to find out how our different measures of risk evolved through time and between different groups. Second, we want to find out if those risks impacted education investment decisions through changes in the expected returns. That is, we investigate whether there exist risk-return trade-offs in education. In the first chapter, we overview nonparametric (spline and kernel) regression methods and illustrate how they may be used in labor economic applications. We focus our attention on issues commonly found in the labor literature such as how to account for endogeneity via instrumental variables in a nonparametric setting. We showcase these methods via data from the Current Population Survey. In the second chapter, we estimate the risk-return trade-off in the context of education. If education is treated like any other investment good, risk could play an important role in individual's educational decisions. As portfolio theory predicts, there could be a trade-off between returns to education and risks concerning the returns: higher risks are generally associated with higher returns. We contribute to the literature by proposing various measures of risk based on the distribution of returns to education, which are in turn based on nonparametric regression results using the Current Population Survey dataset (1980-2015). We infer that risk-averse individuals prefer distributions with positive skewness and low kurtosis. Our results confirm the findings of the literature, i.e. we observe compensation for variance. We also find statistically significant compensation for the higher moments: skewness and kurtosis. Interestingly, we find that the relationship between expected returns and the higher moments skewness and kurtosis is non-linear. In the third chapter, we build on the second chapter to test two hypothesis: first whether there is heterogeneity in the risk of educational investments and if so whether there is compensation for that risk. We use our individual-level estimated rates of return to education and split them in three different ways: by occupation, by region and race, and by region and education-level. We infer that there is heterogeneity, not only in the expected returns (1st moment), but also in the risk faced by individuals (higher moments). We also add to the second chapter by testing whether risk-return trade-offs exist between occupations, whites and non-whites, and different education-level. We expect, for example, occupations that retain higher risk to be compensated by higher mean returns. Generally, we find risk-return trade-offs exist between states, occupations, whites and non-whites, and different education-level, for all three measures of risk. Surprisingly, we find that kurtosis matters more than skewness as a measure of risk. Moreover, the trade-offs between skewness, kurtosis, and expected returns are not always in the directions predicted by theory on decision making under uncertainty.
Download or read book The Distribution of Returns to Education for People with Disabilities written by Daniel J. Henderson and published by . This book was released on 2017 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This note takes a first look at the distribution of returns to education for people with disabilities, a particularly disadvantaged group whose labor market performances have not been well studied or documented. Using a nonparametric approach, we uncover significant heterogeneity in the returns to education for these workers, which is drastically masked by the conventional parametric methods. Based on these estimates, we construct the Sharpe ratio of human capital investment (taking into account its substantial risk), and our results corroborate on the claimed importance of human capital in improving these workers' wages. Our stochastic dominance tests, however, show that the returns to education for workers with disabilities, as a group, may have been affected more adversely in the most recent recession, relative to their non-disabled counterparts."--Abstract.
Download or read book Estimating the Returns to Education written by Harry Anthony Patrinos and published by World Bank Publications. This book was released on 2006 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Typically estimates of the benefits of education investments show average private rates of return for the average individual. The average may not be useful for policy. An examination of the distribution of the returns across individuals is needed. The few studies that have examined these patterns focus on high-income countries, showing investments to be more profitable at the top of the income distribution. The implication is that investments may increase inequality. Extending the analysis to 16 East Asian and Latin American countries the authors observe mixed evidence in middle-income countries and decreasing returns in low-income countries. Such differences between countries could be due to more job mobility in industrial countries, scarcity of skills, or differential exposure to market forces.
Download or read book Handbook of Labor Economics written by Orley Ashenfelter and published by Elsevier. This book was released on 1999-11-18 with total page 800 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to the continually evolving field of labour economics.
Download or read book The Returns to Academic and Vocational Qualifications in Britain written by and published by . This book was released on 2000 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Race between Education and Technology written by Claudia Goldin and published by Harvard University Press. This book was released on 2009-07-01 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a careful historical analysis of the co-evolution of educational attainment and the wage structure in the United States through the twentieth century. The authors propose that the twentieth century was not only the American Century but also the Human Capital Century. That is, the American educational system is what made America the richest nation in the world. Its educational system had always been less elite than that of most European nations. By 1900 the U.S. had begun to educate its masses at the secondary level, not just in the primary schools that had remarkable success in the nineteenth century. The book argues that technological change, education, and inequality have been involved in a kind of race. During the first eight decades of the twentieth century, the increase of educated workers was higher than the demand for them. This had the effect of boosting income for most people and lowering inequality. However, the reverse has been true since about 1980. This educational slowdown was accompanied by rising inequality. The authors discuss the complex reasons for this, and what might be done to ameliorate it.
Download or read book The Returns to Education written by Colm Harmon and published by . This book was released on 2000 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Estimating the Returns to Education in Argentina written by Paula Ines Giovagnoli and published by World Bank Publications. This book was released on 2005 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The authors estimate returns to schooling in urban Argentina for a 10-year period. In addition to comparable earnings functions, they also estimate the returns using quantile regression analysis to detect differences in the returns across the distribution. Over time, men in higher quantiles have higher returns to schooling compared with those in the lower quantiles. For women, returns are highest at the lowest quantile. The returns to education increased during the past decade. The authors do not rule out that increased demand for skills is driving the increasing returns over the decade. "--World Bank web site.
Download or read book Schooling Experience and Earnings written by Jacob Mincer and published by . This book was released on 1993 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economics of Education written by George Psacharopoulos and published by Elsevier. This book was released on 2014-05-17 with total page 499 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics of Education: Research and Studies reviews key topics in the field of economics of education since 1960s. This book is organized into 12 parts. Part I and Part II focus on the supply side of human capital and narrower aspects of human capital creation by means of education. Subsequent parts look at the benefits of education; relationship between education and employment; controversies in the field of economics of education; issues of manpower planning; and methodology for empirically analyzing the issues in the economics of education. The last two parts address the costs of education, with emphasis on cost function, analysis and on the financing of education.
Download or read book The Political Economy of Collective Skill Formation written by Marius R. Busemeyer and published by Oxford University Press. This book was released on 2012 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book examines skill systems and vocational training in a number of coordinated market economies, analysing historical origins and contemporary developments. As well as case studies on Germany, Austria, Switzerland, the Netherlands, and Denmark, it also contains comparative chapters exploring reactions to common challenges.
Download or read book The Economics of Education written by Steve Bradley and published by Academic Press. This book was released on 2020-01-17 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Education: A Comprehensive Overview, Second Edition, offers a comprehensive and current overview of the field of that is broadly accessible economists, researchers and students. This new edition revises the original 50 authoritative articles and adds Developed (US and European) and Developing Country perspectives, reflecting the differences in institutional structures that help to shape teacher labor markets and the effect of competition on student outcomes. - Provides international perspectives that describe the origins of key subjects, their major issues and proponents, their landmark studies, and opportunities for future research - Increases developing county perspectives and comparisons of cross-country institutions - Requires no prior knowledge of the economics of education
Download or read book Estimating the Returns to Education written by Harry A. Patrinos and published by . This book was released on 2016 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Typically estimates of the benefits of education investments show average private rates of return for the average individual. The averagemay not be useful for policy. An examination of the distribution of the returns across individuals is needed. The few studies that have examined these patterns focus on high-income countries, showing investments to be more profitable at the top of the income distribution. The implication is that investments may increase inequality. Extending the analysis to 16 East Asian and Latin American countries the authors observe mixed evidence in middle-income countries and decreasing returns in low-income countries. Such differences between countries could be due to more job mobility in industrial countries, scarcity of skills, or differential exposure to market forces.
Download or read book Evolution of Earnings and Rates of Returns to Education in Mexico written by Gladys Lopez Acevedo and published by World Bank Publications. This book was released on 2001 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inequality in education accounts for a large share of the inequality in earnings in Mexico. But the increase in earnings inequality does not appear to reflect a worsening in the distribution of education. The cause instead appears to be skill-biased technological change facilitated by increased economic openness.
Download or read book The Earnings Distribution and Returns to Education in Ireland 1987 1994 written by Alan Barrett and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Applications of Quantile Regression written by Bernd Fitzenberger and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantile regression has emerged as an essential statistical tool of contemporary empirical economics and biostatistics. Complementing classical least squares regression methods which are designed to estimate conditional mean models, quantile regression provides an ensemble of techniques for estimating families of conditional quantile models, thus offering a more complete view of the stochastic relationship among variables. This volume collects 12 outstanding empirical contributions in economics and offers an indispensable introduction to interpretation, implementation, and inference aspects of quantile regression.
Download or read book Rate of Return to Education a Distributional Analysis Using the LifePaths Model written by Boothby, Daniel W and published by Hull, Québec : Applied Research Branch, Human Resources Development Canada. This book was released on 2002 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
