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Changes in the returns to schooling 1991-2002: evidence from the British Household Panel Survey

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  • Seamus McGuinness
  • Jessica Bennett

Abstract

The present paper uses British Household Panel Survey data from 1991 to 2002 to assess the extent to which labour market returns have been influenced by changes in the nature of educational supply. We find that whilst there have been substantial shifts in the returns to schooling over the period, these effects are much more pronounced for younger workers. The most notable change was the complete elimination of the premium for GCSE's over no qualifications for both males and females under 30 years old and the fall in the returns to vocational degrees for young males. The disappearance of the GCSE premium, which, it is argued, is linked to a rising demand for low-qualified workers, was found to temper the rise in inequality, while the rise in educational participation was found to substantially increase male graduate wage dispersion.

Suggested Citation

  • Seamus McGuinness & Jessica Bennett, 2009. "Changes in the returns to schooling 1991-2002: evidence from the British Household Panel Survey," Education Economics, Taylor & Francis Journals, vol. 17(2), pages 167-184.
    • Handle: RePEc:taf:edecon:v:17:y:2009:i:2:p:167-184
    DOI: 10.1080/09645290802133198
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    References listed on IDEAS

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    1. Marzano, Elisabetta, 2003. "Looking for a job: is there any homogeneity among those not seeking work?," ISER Working Paper Series 2003-25, Institute for Social and Economic Research.
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    4. 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.
    5. O'Leary, Nigel C. & Sloane, Peter J., 2005. "The Changing Wage Return to an Undergraduate Education," IZA Discussion Papers 1549, Institute of Labor Economics (IZA).
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    7. Bratti, Massimiliano & Naylor, Robin & Smith, Jeremy, 2005. "Variations in the Wage Returns to a First Degree: Evidence from the British Cohort Study 1970," IZA Discussion Papers 1631, Institute of Labor Economics (IZA).
    8. Walker, Ian & Zhu, Yu, 2005. "The College Wage Premium, Overeducation, and the Expansion of Higher Education in the UK," IZA Discussion Papers 1627, Institute of Labor Economics (IZA).
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    Cited by:

    1. Gabriele Ballarino & Massimiliano Bratti, 2009. "Field of Study and University Graduates' Early Employment Outcomes in Italy during 1995–2004," LABOUR, CEIS, vol. 23(3), pages 421-457, September.

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