Earnings returns to the British education expansion

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Author: Devereux, Paul J.; Fan, Wen

Abstract:

We study the effects of the large expansion in British educational attainment that took place for cohorts born between 1970 and 1975. Using the Quarterly Labour Force Survey, we find that the expansion caused men to increase education by about a year on average and gain about eight per cent higher wages; women obtained a slightly greater increase in education and a similar increase in wages. Clearly, there was a sizeable gain from being born late enough to take advantage of the greater educational opportunities offered by the expansion. Treating the expansion as an exogenous increase in educational attainment, we obtain instrumental variables estimates of returns to schooling of about six per cent for both men and women.

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We study the effects of the large expansion in British educational attainment that took place for cohorts born between 1970 and 1975. Using the Quarterly Labour Force Survey, we find that the expansion caused men to increase education by about a year on average and gain about eight per cent higher wages; women obtained a slightly greater increase in education and a similar increase in wages. Clearly, there was a sizeable gain from being born late enough to take advantage of the greater educational opportunities offered by the expansion. Treating the expansion as an exogenous increase in ...  [+] Show more

Subjects: Outcomes; Gender; Income; Higher education

Keywords: Relevance of education and training; Academic achievement; Wage; Return on education and training

Geographic subjects: Great Britain; Europe

Published: Oxford, England: Elsevier, 2011

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Journal title: Economics of education review

Journal volume : 30

Journal number: 6

Journal date: December 2011

Pages: pp. 1153-1166

ISSN: 0272-7757

Resource type: Article

Peer reviewed: Yes

Call Number:
TD/TNC 106.288



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