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Predictors of Economic Outcomes among Romanian Youth: The Influence of Education - An Empirical Approach Based on Elastic Net Regression
[Zeitschriftenartikel]
Abstract Young people have to be provided with opportunities to access prosperous, resilient and fulfilling lives. Investing in education and skills is considered one of the most important ways to support young people's well-being and to enable them to enjoy good career prospects. Using the framework of huma... mehr
Young people have to be provided with opportunities to access prosperous, resilient and fulfilling lives. Investing in education and skills is considered one of the most important ways to support young people's well-being and to enable them to enjoy good career prospects. Using the framework of human capital theory, we explored the role of education among the factors explaining wage variation among Romanian youth. We built our analysis on micro-data for Romania from the EU Statistics on Income and Living Conditions 2020. In order to identify the most important factors influencing the wage distribution, we employed the elastic net regression approach. Moreover, we considered the phenomenon of expansion of education and ran the analysis by alternately using a traditional measure for education and a relative measure reflecting the theory of education as positional good. We ran the analysis for different cohorts of the population, focusing the discussion on the results for young people. Our findings confirm the importance of education for wage distribution together with other factors of influence, such as gender, degree of urbanization, region, sector of employment and working experience. Our conclusions are relevant for designing more effective educational and social policies to deal with various disadvantages faced by youth in Romania.... weniger
Thesaurusschlagwörter
Humankapital; Jugend; Rumänien; Bildungsniveau; Lohnunterschied; Benachteiligung; Bildungspolitik; Sozialpolitik
Klassifikation
Jugendsoziologie, Soziologie der Kindheit
Makroebene des Bildungswesens
Sozialpolitik
Freie Schlagwörter
human capital theory; expansion of education; earnings; EU-SILC 2020
Sprache Dokument
Englisch
Publikationsjahr
2022
Zeitschriftentitel
International Journal of Environmental Research and Public Health, 19 (2022) 15
DOI
https://doi.org/10.3390/ijerph19159394
ISSN
1660-4601
Status
Veröffentlichungsversion; begutachtet (peer reviewed)