Economic benefits of lifelong learning

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Author: Dorsett, Richard; Lui, Silvia; Weale, Martin

Abstract:

This paper examines the effect of lifelong learning on men's employment and wages. Using data from the British Household Panel Survey, a variant of the mover-stayer model is developed in which hourly wages are either taken from a stationary distribution (movers) or are closely related to the hourly wage one year earlier (stayers). Mover-stayer status is not observed and we therefore model wages using an endogenous switching regression, extended to take account of non-random selection into employment. The model is estimated by maximum likelihood, using generalised residuals to correct for possible endogeneity of lifelong learning decisions. The results show modest effects significant at a 10 per cent level for men who undertake lifelong learning without upgrading their educational status and more powerful and significant effects for those who do upgrade their status. For the latter, the influence of lifelong learning on employment prospects is an important influence on the overall return.

Published abstract.

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This paper examines the effect of lifelong learning on men's employment and wages. Using data from the British Household Panel Survey, a variant of the mover-stayer model is developed in which hourly wages are either taken from a stationary distribution (movers) or are closely related to the hourly wage one year earlier (stayers). Mover-stayer status is not observed and we therefore model wages using an endogenous switching regression, extended to take account of non-random selection into employment. The model is estimated by maximum likelihood, using generalised residuals to ...  [+] Show more

Subjects: Lifelong learning; Employment; Gender; Outcomes; Income; Qualifications

Keywords: Return on education and training; Wage; Educational level

Geographic subjects: Great Britain; Europe

Published: London, England: Centre for Learning and Life Chances in Knowledge Economies and Societies, 2010

Physical description: 38 p.

Access item:
http://www.llakes.org/wp-content/uploads/2010/08/DorsettLuiWealeComplete.pdf

Series:
LLAKES research paper; no. 13

ISSN: 2042-5929

Resource type: Paper

Call Number:
TD/TNC 111.189



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