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Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 11231
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
This paper investigates the wage returns to schooling and actual early work experiences, and how these returns have changed over the past twenty years. Using the NLSY surveys, we develop and estimate a dynamic model of the joint schooling and work decisions that young men make in early adulthood, and quantify how they affect wages using a generalized Mincerian specification. Our results highlight the need to account for dynamic selection and changes in composition when analyzing changes in wage returns. In particular, we find that ignoring the selectivity of accumulated work experiences results in overstatement of the returns to education.
Schlagwörter: 
schooling
human capital
wage returns
selection
JEL: 
C33
J22
J24
I21
I26
Dokumentart: 
Working Paper

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