Cohort effects and the returns to education in West Germany


Boockmann, Bernhard ; Steiner, Viktor


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URL: http://ub-madoc.bib.uni-mannheim.de/576
URN: urn:nbn:de:bsz:180-madoc-5766
Document Type: Working paper
Year of publication: 2000
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: J31 ,
Subject headings (SWD): Deutschland <Westliche Länder> , Bildung , Arbeiter
Abstract: Using a Mincer-type wage function, we estimate cohort effects in the returns to education for West German workers born between 1925 and 1974. The main problem to be tackled in the specification is to separately identify cohort, experience, and possibly also age effects in the returns. For women, we find a large and robust decline in schooling premia: in the private sector, the returns to a further year of post-compulsory education fell from twelve per cent for the 1945-49 cohort to about seven per cent for those born in the early 1970s. Cohort effects in men's returns to education are less obvious, but we do find evidence that they, too, have declined. We conclude by identifying possible reasons for the decline.
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Boockmann, Bernhard ; Steiner, Viktor (2000) Cohort effects and the returns to education in West Germany. Open Access [Working paper]
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