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Returns to Education During and After the Economic Crisis: Evidence from Latvia 2006-2012
[journal article]
Abstract We employ EU-SILC micro data for Latvia to study how returns to education changed during the economic crisis of 2008-2009 and afterwards. We found that returns to education increased significantly during the crisis and decreased slightly during the subsequent economic recovery. The counter-cyclical ... view more
We employ EU-SILC micro data for Latvia to study how returns to education changed during the economic crisis of 2008-2009 and afterwards. We found that returns to education increased significantly during the crisis and decreased slightly during the subsequent economic recovery. The counter-cyclical effect was evident in nearly all population groups. After the crisis, education became more associated than before with a longer working week and a higher employment probability. Furthermore, we show that returns to education in Latvia are generally higher in the capital city and its suburbs than outside the capital city region, as well as for citizens of Latvia than for resident non-citizens and citizens of other countries, but lower for males and young people. Wage differential models reveal a relatively large wage premium for higher education and a rather small one for secondary education. Estimates obtained with instrumental variable (IV) models significantly exceed the OLS estimates.... view less
Keywords
Latvia; economic crisis; university level of education; wage; wage level; measurement; difference in income; economic model; professional experience; gender-specific factors
Classification
Labor Market Research
Free Keywords
returns to education; Mincer coefficient; wage differentials model; higher education wage premium; instrumental variables
Document language
English
Publication Year
2017
Page/Pages
p. 133-157
Journal
Comparative Economic Research, 20 (2017) 1
ISSN
2082-6737
Status
Published Version; peer reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 3.0