Template-type: ReDif-Paper 1.0
Author-Name: Velden,Rolf,van der
Author-Name: Wolbers,Maarten
Author-workplace-name: ROA rm
Title: How much does education matter and why?
Abstract: This article explores the total (measured and unmeasured) effect of education on different socio-economic outcomes. The analysis shows that the usual regression models typically underestimate the effects of education. The effects of education are decomposed into three sources of variation: courses of study, schools and student composition. Schools do not seem to have a large impact. A significant part of the effect of education stems from differential selection of students into courses of study. However, there is a notable difference between social and economic rewards. Apart from level of education, selectivity and specificity of the course of study turn out to affect the labor market outcomes
Keywords: labour market entry and occupational careers; 
Series: Research Memoranda
Creation-Date: 2004
Number: 003
File-URL: http://edocs.ub.unimaas.nl/loader/file.asp?id=896
File-Format: application/pdf
File-Size: 213537
Handle: RePEc:unm:umaror:2004003