Returns to skills around the world : Evidence from PIAAC

Cite This

Files in this item

Files Size Format View

There are no files associated with this item.

HANUSHEK, Eric A., Guido SCHWERDT, Simon WIEDERHOLD, Ludger WOESSMANN, 2015. Returns to skills around the world : Evidence from PIAAC. In: European Economic Review. 73, pp. 103-130. ISSN 0014-2921. eISSN 1873-572X. Available under: doi: 10.1016/j.euroecorev.2014.10.006

@article{Hanushek2015Retur-31022, title={Returns to skills around the world : Evidence from PIAAC}, year={2015}, doi={10.1016/j.euroecorev.2014.10.006}, volume={73}, issn={0014-2921}, journal={European Economic Review}, pages={103--130}, author={Hanushek, Eric A. and Schwerdt, Guido and Wiederhold, Simon and Woessmann, Ludger} }

<rdf:RDF xmlns:dcterms="" xmlns:dc="" xmlns:rdf="" xmlns:bibo="" xmlns:dspace="" xmlns:foaf="" xmlns:void="" xmlns:xsd="" > <rdf:Description rdf:about=""> <dc:creator>Wiederhold, Simon</dc:creator> <bibo:uri rdf:resource=""/> <dc:contributor>Schwerdt, Guido</dc:contributor> <dcterms:issued>2015</dcterms:issued> <dcterms:isPartOf rdf:resource=""/> <dcterms:title>Returns to skills around the world : Evidence from PIAAC</dcterms:title> <dc:date rdf:datatype="">2015-05-22T09:30:10Z</dc:date> <dc:contributor>Woessmann, Ludger</dc:contributor> <dspace:isPartOfCollection rdf:resource=""/> <dc:language>eng</dc:language> <void:sparqlEndpoint rdf:resource="http://localhost/fuseki/dspace/sparql"/> <dc:contributor>Wiederhold, Simon</dc:contributor> <dc:contributor>Hanushek, Eric A.</dc:contributor> <dc:creator>Schwerdt, Guido</dc:creator> <dcterms:available rdf:datatype="">2015-05-22T09:30:10Z</dcterms:available> <dc:creator>Woessmann, Ludger</dc:creator> <dc:creator>Hanushek, Eric A.</dc:creator> <dcterms:abstract xml:lang="eng">Existing estimates of the labor-market returns to human capital give a distorted picture of the role of skills across different economies. International comparisons of earnings analyses rely almost exclusively on school attainment measures of human capital, and evidence incorporating direct measures of cognitive skills is mostly restricted to early-career workers in the United States. Analysis of the new PIAAC survey of adult skills over the full lifecycle in 23 countries shows that the focus on early-career earnings leads to underestimating the lifetime returns to skills by about one quarter. On average, a one-standard-deviation increase in numeracy skills is associated with an 18 percent wage increase among prime-age workers. But this masks considerable heterogeneity across countries. Eight countries, including all Nordic countries, have returns between 12 and 15 percent, while six are above 21 percent with the largest return being 28 percent in the United States. Estimates are remarkably robust to different earnings and skill measures, additional controls, and various subgroups. Instrumental-variable models that use skill variation stemming from school attainment, parental education, or compulsory-schooling laws provide even higher estimates. Intriguingly, returns to skills are systematically lower in countries with higher union density, stricter employment protection, and larger public-sector shares.</dcterms:abstract> <foaf:homepage rdf:resource="http://localhost:8080/jspui"/> </rdf:Description> </rdf:RDF>

This item appears in the following Collection(s)

Search KOPS


My Account