A Model of Educational Attainment : Application to the German Case


Lauer, Charlotte


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URL: http://ub-madoc.bib.uni-mannheim.de/438
URN: urn:nbn:de:bsz:180-madoc-4386
Document Type: Working paper
Year of publication: 2002
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: C5 I2 ,
Subject headings (SWD): Deutschland , Humankapitaltheorie , Bildung
Abstract: This paper aims at formulating a theoretical model of educational attainment which is directly implementable empirically. The conceptual framework relies on the human capital theory, where individuals weigh the costs and the returns of education to decide on the optimal amount of education they want to invest in. In an extension of the model, the educational process is decomposed into two stages: achievement at school and post-school achievement. The same conceptual framework applies at both stages, but a correlation is permitted between them. Empirically, this boils down to estimate a multivariate ordered probit model. An illustration based on German data shows how this model functions in practice. Thus, the model confers an economic foundation on the empirical estimation of the impact of certain factors on educational outcomes.
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Lauer, Charlotte (2002) A Model of Educational Attainment : Application to the German Case. Open Access [Working paper]
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