Social Returns to Education: Evidence From Italian Local Labor Market Areas

August 1, 2003

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Format: Chicago

A. Dalmazzo, and Guido De Blasio. Social Returns to Education: Evidence From Italian Local Labor Market Areas, (USA: International Monetary Fund, 2003) accessed October 11, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The paper provides a quantitative assessment of social returns to education in Italy. It shows that, after controlling for individual characteristics, local average human capital is positively correlated with individual wages, with estimated social returns between 2 and 3 percent. This result is robust to alternative estimation methods and does not seem to depend on endogenous sorting. The paper also shows that social returns are higher in the lagged areas of the south of Italy.

Subject: Economic sectors, Education, Human capital, Labor, Labor markets, Manufacturing, Wages

Keywords: Composition effect, Education, Human Capital, Labor markets, LLMA characteristic, Manufacturing, Mincerian wage-equation approach, Mincerian wage-regression approach, Nominal wage wage differential, Physical capital, Productivity shock, Standard deviation, Wage premium, Wage rate, Wages, WP

Publication Details

Pages:

32
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2003/165
Stock No:

WPIEA1652003
ISBN:

9781451858075
ISSN:

1018-5941

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