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The estimation of Mincer function in conditions of the Czech republic
[Odhad Mincerovy funkce v podmínkách České republiky]

Author

Listed:
  • Savina Finardi
  • Jakub Fischer

Abstract

The paper deals with the evaluation of investment in higher education through Mincer's function, which is one of the most important methods of evaluation of this investment. The authors deal with a large set of observations of a total of 20,000, reflecting the positive influence of higher education on the wage earnings of individuals in the conditions of the Czech Republic. However, the positive impact of education attained is not the only relevant factor, but also other factors such as the region, gender and the economic sector affect the total earnings.

Suggested Citation

  • Savina Finardi & Jakub Fischer, 2017. "The estimation of Mincer function in conditions of the Czech republic [Odhad Mincerovy funkce v podmínkách České republiky]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2017(3), pages 57-68.
    • Handle: RePEc:prg:jnlcfu:v:2017:y:2017:i:3:id:501:p:57-68
    DOI: 10.18267/j.cfuc.501
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    References listed on IDEAS

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    1. Daniel Münich & Jan Svejnar & Katherine Terrell, 2005. "Returns to Human Capital Under The Communist Wage Grid and During the Transition to a Market Economy," The Review of Economics and Statistics, MIT Press, vol. 87(1), pages 100-123, February.
    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. Mr. Robert J. Flanagan, 1995. "Wage Structure in the Transition of the Czech Economy," IMF Working Papers 1995/036, International Monetary Fund.
    4. James J. Heckman & Lance J. Lochner & Petra E. Todd, 2008. "Earnings Functions and Rates of Return," Journal of Human Capital, University of Chicago Press, vol. 2(1), pages 1-31.
    5. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1.
    6. Byeongju Jeong & Michal Kejak & Viatcheslav Vinogradov, 2005. "Changing Composition of Human Capital: The Czech Republic, Hungary, and Poland," CERGE-EI Working Papers wp248, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    7. 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.
    8. Corrado Andini, 2010. "A dynamic Mincer equation with an application to Portuguese data," Applied Economics, Taylor & Francis Journals, vol. 42(16), pages 2091-2098.
    9. Heckman, James J. & Lochner, Lance J. & Todd, Petra E., 2006. "Earnings Functions, Rates of Return and Treatment Effects: The Mincer Equation and Beyond," Handbook of the Economics of Education, in: Erik Hanushek & F. Welch (ed.), Handbook of the Economics of Education, edition 1, volume 1, chapter 7, pages 307-458, Elsevier.
    10. Jacob A. Mincer, 1974. "Schooling and Earnings," NBER Chapters, in: Schooling, Experience, and Earnings, pages 41-63, National Bureau of Economic Research, Inc.
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    13. Ordaz, Juan Luis, 2008. "The economic returns to education in Mexico: a comparison between urban and rural areas," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    14. Robert J. Flanagan, 1995. "Wage Structures in the Transition of the Czech Economy," IMF Staff Papers, Palgrave Macmillan, vol. 42(4), pages 836-854, December.
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    16. Corrado Andini, 2007. "Returns to education and wage equations: a dynamic approach," Applied Economics Letters, Taylor & Francis Journals, vol. 14(8), pages 577-579.
    17. Robert S. Chase, 1998. "Markets for Communist Human Capital: Returns to Education and Experience in the Czech Republic and Slovakia," ILR Review, Cornell University, ILR School, vol. 51(3), pages 401-423, April.
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    More about this item

    Keywords

    Human capital; Higher education; Mincer function; Lidský kapitál; Vysokoškolské vzdělání; Mincerova funkce;
    All these keywords.

    JEL classification:

    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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