Returns to education in the Irish youth labour market |
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Authors: | Alan Barrett Tim Callan Brian Nolan |
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Institution: | (1) The Economic and Social Research Institute, 4, Burlington Road, Dublin 4, Ireland (Fax: 353-1-668-6231; e-mail: alan.barrett@esri.ie), IE |
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Abstract: | Using data from two large-scale household surveys in 1987 and 1994, we estimate wage equations which show substantial increases
in returns to university education for young Irish workers over the period, despite the exceptional increase in numbers with
these qualifications. Returns to non-degree third level certificates and diplomas fell in relative terms, but returns to qualifications
obtained by those leaving school at about 16 years of age rose. We argue that the increased return to university education
primarily reflects the generalised shift in demand towards skilled labour internationally and the open nature of the Irish
labour market. However, a floor may have been placed under earnings for low-skilled youth by the increased generosity of income
support available to them.
Received: 29 December 1997/Accepted: 7 August 1998 |
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Keywords: | JEL classification: J31 |
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