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The wage premium on tertiary education: New estimates for 21 OECD countries

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  • Hubert Strauss
  • Christine de la Maisonneuve

Abstract

This study focuses on the single most important component of the private return on tertiary education, the gross wage premium. There are at least two additional reasons for paying particular attention to wage premia. First, the wage premium earned by existing graduates is easy to observe, so high-school leavers can be assumed to take it into account when deciding for or against enrolment in tertiary education. Second, to the extent that wages reflect marginal labour productivity, estimates of wage premia are sometimes used to assess the quality of human capital in an economy with a view to correcting simpler measures based on years of schooling or attainment levels.

Suggested Citation

  • Hubert Strauss & Christine de la Maisonneuve, 2009. "The wage premium on tertiary education: New estimates for 21 OECD countries," OECD Journal: Economic Studies, OECD Publishing, vol. 2009(1), pages 1-29.
    • Handle: RePEc:oec:ecokac:5ks8gztp5c5h
    DOI: 10.1787/eco_studies-v2009-art7-en
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    Citations

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    Cited by:

    1. Fabian Kindermann, 2012. "Welfare Effects of Privatizing Public Education When Human Capital Investments Are Risky," Journal of Human Capital, University of Chicago Press, vol. 6(2), pages 87-123.
    2. Andrew T. Young & Hernando Zuleta, 2016. "Golden Rules of Wages," Southern Economic Journal, John Wiley & Sons, vol. 83(1), pages 253-270, July.
    3. Joyce Wong & Raquel Fernández, 2012. "The Disappearing Gender Gap: The impact of divorce, wages, and preferences on education and women's work," 2012 Meeting Papers 176, Society for Economic Dynamics.
    4. Karlis Vilerts & Olegs Krasnopjorovs & Edgars Brekis, 2015. "Does Education Affect Wages During and After Economic Crisis? Evidence from Latvia (2006–2012)," Working Papers 2015/03, Latvijas Banka.
    5. Bruna BRUNO & Damiano FIORILLO, 2016. "Voluntary Work And Wages," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 87(2), pages 175-202, December.
    6. João Pereira dos Santos & José Tavares & José Mesquita, 2021. "Leave them kids alone! National exams as a political tool," Public Choice, Springer, vol. 189(3), pages 405-426, December.
    7. Barrios, Salvador & Nicodème, Gaëtan & Sanchez Fuentes, Antonio Jesus, 2014. "Effective Corporate Taxation, Tax Incidence and Tax Reforms: Evidence from OECD Countries," CEPR Discussion Papers 10198, C.E.P.R. Discussion Papers.
    8. McGuinness, Seamus & Kelly, Elish & Pham, Thi Thu Phuong & Ha, Thi Thu Thuy & Whelan, Adele, 2021. "Returns to education in Vietnam: A changing landscape," World Development, Elsevier, vol. 138(C).
    9. Lynn A. Karoly, 2010. "The Role of Education in Preparing Graduates for the Labor Market in the GCC Countries," Working Papers WR-742, RAND Corporation.
    10. Raquel Fernández & Joyce Cheng Wong, 2011. "The Disappearing Gender Gap: The Impact of Divorce, Wages, and Preferences on Education Choices and Women's Work," NBER Working Papers 17508, National Bureau of Economic Research, Inc.
    11. Fernández, Raquel & Wong, Joyce Cheng, 2011. "The Disappearing Gender Gap: The Impact of Divorce, Wages, and Preferences on Education Choices and Women's Work," CEPR Discussion Papers 8627, C.E.P.R. Discussion Papers.
    12. Domenico Depalo & Raffaela Giordano & Evangelia Papapetrou, 2015. "Public–private wage differentials in euro-area countries: evidence from quantile decomposition analysis," Empirical Economics, Springer, vol. 49(3), pages 985-1015, November.
    13. Fernández, Raquel & Wong, Joyce Cheng, 2011. "The Disappearing Gender Gap: The Impact of Divorce, Wages, and Preferences on Education Choices and Women's Work," IZA Discussion Papers 6046, Institute of Labor Economics (IZA).
    14. Richter, Wolfram F., 2013. "Mincer Equation, Power Law of Learning, and Efficient Education Policy," IZA Discussion Papers 7280, Institute of Labor Economics (IZA).
    15. Tavares, José & Mesquita Gabriel, José & Pereira Dos Santos, Joao, 2020. "Leave them Kids Alone! National Exams as a Political Tool," CEPR Discussion Papers 14374, C.E.P.R. Discussion Papers.
    16. O'Connell, Michael, 2018. "The power of cognitive ability in explaining educational test performance, relative to other ostensible contenders," Intelligence, Elsevier, vol. 66(C), pages 122-127.

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