Do Human Arts Really Offer a Lower Return to Education?


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Do Human Arts Really Offer a Lower Return to Education?

Vis færre oplysninger Dalgaard, Carl-Johan Schultz, Esben Anton Sørensen, Anders 2012-10-02 2012-10-03T13:26:32Z 2012-10-03T13:26:32Z 2012-10-03
dc.description.abstract Is the wage gap between majors in human arts and other fields caused by their education per se? If the educational choice is endogenous, the gap may instead be caused by selection. We document that individuals’ educational choice is correlated with that of older students, and argue that it should not influence wages directly. Exploiting this "cohort dependence" as an instrument for educational choice, our 2SLS estimates show that the hourly wage gap is attributable to selection. However, only half of the gap in annual earnings is explained by selection, whereas the other half is due to lower work hours. en_US
dc.format.extent 43 en_US
dc.language eng en_US
dc.publisher Centre for Economic and Business Research (CEBR)
dc.subject.other Returns to education en_US
dc.subject.other Human arts en_US
dc.subject.other Instrumental variables en_US
dc.title Do Human Arts Really Offer a Lower Return to Education? en_US
dc.type wp en_US
dc.accessionstatus modt12okt03 lbjl en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Økonomisk Institut en_US
dc.contributor.departmentshort ECON en_US
dc.contributor.departmentuk Department of Economics en_US
dc.contributor.departmentukshort ECON en_US
dc.description.notes Revised edition of working paper with same title from 2009 en_US Frederiksberg
dc.publisher.year 2012 en_US

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