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Educational Attainment and the Returns to Education for Australian Youth: Evidence of Self-Selection?

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  • Gaston, N.

    (Tulane University, New Orleans, Louisiana, USA)

  • Sturm, R.

    (Stanford Unviersity, Stanford, California, USA)

Abstract

Debates concerning the re-introduction of tertiary fees in Australia have made rates of return on education an active topic for investigation. This paper provides estimates of the returns to education that allow for worker heterogencity and individual self selection in the education process. Using data drawn from the Australian Longitudinal Survey, a sequential estimation procedure is used that enables us to study the interaction between educational attainment and earnings determination. We find that traditional OLS measures of rates of return to education are understated and hence, counsel caution in the interpretation and use of the estimated returns provided by some authors.

Suggested Citation

  • Gaston, N. & Sturm, R., 1991. "Educational Attainment and the Returns to Education for Australian Youth: Evidence of Self-Selection?," Economic Analysis and Policy, Elsevier, vol. 21(1), pages 29-45.
    • Handle: RePEc:eee:ecanpo:v:21:y:1991:i:1:p:29-45
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    Cited by:

    1. Morita, Tamaki & Yamamoto, Kimika & Managi, Shunsuke, 2018. "The relationship between school-based career education and subsequent incomes: Empirical evidence from Japan," Economic Analysis and Policy, Elsevier, vol. 58(C), pages 70-87.
    2. Fatma El-Hamidi, 2004. "General or Vocational? Evidence on School Choice, Returns, and “Sheep Skin” Effects from Egypt 1998," Working Papers 0406, Economic Research Forum, revised 01 Aug 2004.
    3. Mona Said & Fatma El-Hamidi, 2008. "Taking Technical Education Seriously in MENA: Determinants, Labor Market Implications and Policy Lessons," Working Papers 450, Economic Research Forum, revised 09 Jan 2008.
    4. Arjun Bedi & Noel Gaston, 1997. "Returns to endogenous education: the case of Honduras," Applied Economics, Taylor & Francis Journals, vol. 29(4), pages 519-528.
    5. Moenjak, Thammarak & Worswick, Christopher, 2003. "Vocational education in Thailand: a study of choice and returns," Economics of Education Review, Elsevier, vol. 22(1), pages 99-107, February.

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