Citation

Discussion Paper Details

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Title: Are Austrian Returns to Education Falling Over Time?

Author(s): Josef Fersterer and Rudolf Winter-Ebmer

Publication Date: December 1999

Keyword(s): Quartile Regression, Returns to Education and Sample Selection

Programme Area(s): Labour Economics

Abstract: In this paper we make a systematic presentation of returns to education in Austria for the period 1981-1997. We use consistent cross-sections from the Mikrozensus and find falling returns over time. These falling returns are not caused by changes in the sample design and reduced willingness to reveal personal incomes in the survey. Moreover, it is shown that especially returns to university education have fallen. If the focus is not on mean returns, but if we apply quartile regression techniques, interesting patterns emerge: returns are falling the most in the lowest quartiles, but remain almost constant in the highest quartiles. The overall picture of falling returns is consistent with a rise in the supply of well-educated workers in the past two decades.

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Bibliographic Reference

Fersterer, J and Winter-Ebmer, R. 1999. 'Are Austrian Returns to Education Falling Over Time?'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=2313