IDEAS home Printed from https://ideas.repec.org/a/eee/eecrev/v17y1982i3p333-347.html
   My bibliography  Save this article

Earnings and education in Greece, 1960–1977

Author

Listed:
  • Psacharopoulos, George

Abstract

This paper analyses the structure of earnings in Greece by level of education in 1960, 1964 and 1977 by means of individual data raised by special labour market surveys covering nearly 12,000 employees in urban areas. The human capital specification of the earnings function explains, as elsewhere, about one third of a particular measure of income inequality (the variance of log-earnings). The rate of return to schooling as a whole, and to investment in higher education in particular, has declined drastically between the early sixties and the late seventies, a fact that is attributed to the expansion of higher education enrolment and graduates. The paper concludes with a discussion of the apparent puzzle of a strong social demand for higher education combined with a low private rate of return to this level of schooling.

Suggested Citation

  • Psacharopoulos, George, 1982. "Earnings and education in Greece, 1960–1977," European Economic Review, Elsevier, vol. 17(3), pages 333-347.
    • Handle: RePEc:eee:eecrev:v:17:y:1982:i:3:p:333-347
    DOI: 10.1016/S0014-2921(82)80068-8
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0014292182800688
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/S0014-2921(82)80068-8?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Jacob Mincer & Solomon Polachek, 1974. "Family Investments in Human Capital: Earnings of Women," NBER Chapters, in: Marriage, Family, Human Capital, and Fertility, pages 76-110, National Bureau of Economic Research, Inc.
    2. Jacob A. Mincer, 1974. "Introduction to "Schooling, Experience, and Earnings"," NBER Chapters, in: Schooling, Experience, and Earnings, pages 1-4, National Bureau of Economic Research, Inc.
    3. Mark R. Rosenzweig & Jack Morgan, 1976. "Wage Discrimination: A Comment," Journal of Human Resources, University of Wisconsin Press, vol. 11(1), pages 3-7.
    4. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1.
    5. George Psacharopoulos & Richard Layard, 1979. "Human Capital and Earnings: British Evidence and a Critique," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 46(3), pages 485-503.
    6. George Psacharopoulos, 1970. "Estimating Shadow Rates of Return to Investment in Education," Journal of Human Resources, University of Wisconsin Press, vol. 5(1), pages 34-50.
    7. Jacob A. Mincer, 1974. "Schooling and Earnings," NBER Chapters, in: Schooling, Experience, and Earnings, pages 41-63, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Harry A Patrinos, 2022. "Returns to Education in Greece: Evidence from the 1977 Labor Market Survey using the Greek Civil War as an Instrument," Economics Bulletin, AccessEcon, vol. 42(1), pages 288-293.
    2. Tsakloglou, Panos & Antoninis, Manos, 1999. "On the distributional impact of public education: evidence from Greece," Economics of Education Review, Elsevier, vol. 18(4), pages 439-452, October.
    3. Kostakis, Ioannis & Lolos, Sarantis & Doulgeraki, Charikleia, 2020. "Cultural Heritage led Growth: Regional evidence from Greece (1998-2016)," MPRA Paper 98443, University Library of Munich, Germany.
    4. Evangelia Papapetrou & Dimitrios Bakas, 2013. "The Greek labour market during the crisis: unemployment, employment and labour force participation," Economic Bulletin, Bank of Greece, issue 38, pages 65-83, November.
    5. George Psacharopoulos, 1986. "Welfare Effects Of Government Intervention In Education," Contemporary Economic Policy, Western Economic Association International, vol. 4(3), pages 51-62, July.
    6. Evangelia Vourvachaki, 2013. "Structural reform of the road haulage sector," Economic Bulletin, Bank of Greece, issue 38, pages 21-32, November.
    7. Nikos Karabalis & Euripides Kondelis, 2013. "Indirect tax increases and their impact on inflation over 2010 – 2012," Economic Bulletin, Bank of Greece, issue 38, pages 7-19, November.
    8. Panagiota Tzamourani, 2013. "The Household Finance Survey: description of the 2009 survey and main results on households’ income, wealth and debt in Greece," Economic Bulletin, Bank of Greece, issue 38, pages 85-101, November.
    9. Ioannis Cholezas & Nikolaos C Kanellopoulos & Theodoros Mitrakos & Panos Tsakloglou, 2013. "The impact of the current crisis on private returns to education in Greece," Economic Bulletin, Bank of Greece, issue 38, pages 33-63, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Aftab Ahmed Memon & Zhimin Liu, 2019. "Assessment of Sustainable Development of the Performance of Higher Education Credentials in the Transitive Labor Market," Sustainability, MDPI, vol. 11(9), pages 1-14, May.
    2. Solomon Polachek, 2003. "Mincer's Overtaking Point and the Life Cycle Earnings Distribution," Review of Economics of the Household, Springer, vol. 1(4), pages 273-304, December.
    3. Fortin, Bernard & Ragued, Safa, 2017. "Does temporary interruption in postsecondary education induce a wage penalty? Evidence from Canada," Economics of Education Review, Elsevier, vol. 58(C), pages 108-122.
    4. Aleksandra Majchrowska & Paweł Strawiński & Karolina Konopczak & Agnieszka Skierska, 2014. "Why are women paid less than men? An investigation into gender wage gap in Poland," Working Papers 2014-31, Faculty of Economic Sciences, University of Warsaw.
    5. Tim Leunig & Maria Stanfors, 2010. "Piece-rates and prosperity: evidence from the late nineteenth-century tobacco industry," Working Papers 10003, Economic History Society.
    6. Thierry Debrand & Sophie Pennec & Anne-Gisèle Privat, 2003. "Un modèle de microsimulation pour la projection des retraites du régime général," Economie & Prévision, La Documentation Française, vol. 0(4), pages 215-230.
    7. David Neumark, 2018. "Experimental Research on Labor Market Discrimination," Journal of Economic Literature, American Economic Association, vol. 56(3), pages 799-866, September.
    8. Yubilianto, 2020. "Return to education and financial value of investment in higher education in Indonesia," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 9(1), pages 1-28, December.
    9. Zveglich, Joseph E. & van der Meulen Rodgers, Yana & Laviña, Editha A., 2019. "Expected work experience and the gender wage gap: A new human capital measure," Economic Modelling, Elsevier, vol. 83(C), pages 372-383.
    10. Necker, Sarah & Voskort, Andrea, 2014. "Intergenerational transmission of risk attitudes – A revealed preference approach," European Economic Review, Elsevier, vol. 65(C), pages 66-89.
    11. Averett, Susan L. & Burton, Mark L., 1996. "College attendance and the college wage premium: Differences by gender," Economics of Education Review, Elsevier, vol. 15(1), pages 37-49, February.
    12. Steinhardt, Max Friedrich, 2012. "Does citizenship matter? The economic impact of naturalizations in Germany," Labour Economics, Elsevier, vol. 19(6), pages 813-823.
    13. Rassou R., 1993. "Statistical measurement of gender wage differentials," ILO Working Papers 992920693402676, International Labour Organization.
    14. Colm Harmon & Hessel Oosterbeek, 2000. "The Returns to Education: A Review of Evidence, Issues and Deficiencies in the Literature," CEE Discussion Papers 0005, Centre for the Economics of Education, LSE.
    15. Anzoategui, Diego & Demirgüç-Kunt, Asli & Martínez Pería, María Soledad, 2014. "Remittances and Financial Inclusion: Evidence from El Salvador," World Development, Elsevier, vol. 54(C), pages 338-349.
    16. Theodore R. Breton & Andrew S. Breton, 2021. "Growth in a macro‐Mincer model: Good results with schooling and experience interactions," Review of Development Economics, Wiley Blackwell, vol. 25(2), pages 563-581, May.
    17. Elisa R. Birch & Alison C. Preston, 2021. "The Evolving Wage Structure of Young Adults in Australia: 2001 to 2019," The Economic Record, The Economic Society of Australia, vol. 97(318), pages 365-386, September.
    18. Boll Christina & Rossen Anja & Wolf André, 2017. "The EU Gender Earnings Gap: Job Segregation and Working Time as Driving Factors," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 237(5), pages 407-452, October.
    19. Polachek, Solomon W., 2008. "Earnings Over the Life Cycle: The Mincer Earnings Function and Its Applications," Foundations and Trends(R) in Microeconomics, now publishers, vol. 4(3), pages 165-272, April.
    20. L.A. Grogan, 1997. "Wage Dispersion in Russia," Tinbergen Institute Discussion Papers 97-075/3, Tinbergen Institute.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eecrev:v:17:y:1982:i:3:p:333-347. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/eer .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.