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Coping with change: International differences in the returns to skills

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  • Hanushek, Eric A.
  • Schwerdt, Guido
  • Wiederhold, Simon
  • Woessmann, Ludger

Abstract

International data from the PIAAC survey allow estimation of comparable labor-market returns to skills for 32 countries. Returns to skills are larger in faster growing economies, consistent with the hypothesis that skills are particularly important for adaptation to economic change.

Suggested Citation

  • Hanushek, Eric A. & Schwerdt, Guido & Wiederhold, Simon & Woessmann, Ludger, 2017. "Coping with change: International differences in the returns to skills," Economics Letters, Elsevier, vol. 153(C), pages 15-19.
    • Handle: RePEc:eee:ecolet:v:153:y:2017:i:c:p:15-19
    DOI: 10.1016/j.econlet.2017.01.007
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    More about this item

    Keywords

    Returns to skills; Economic growth; Cognitive skills; International comparisons; Disequilibria; Knowledge capital;
    All these keywords.

    JEL classification:

    • I2 - Health, Education, and Welfare - - Education
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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