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A model of endogenous growth is used to test the effect of education on wage differentials.The presence and persistence of substantial wage differentials between industries has been documented. Differences between wages in different industries could result from (1) the normal functioning of competitive labor markets (compensating differential levels of human capital), (2) institutional factors, such as the presence of a union, and (3) efficiency wages paid in some industries (employers finding they can increase profits by paying workers above-market wages).Using a testable model of endogenous growth, Sakellariou analyzes microdata from the Guatemala Household Survey to estimate the external effects of education.First, he estimates a wage equation and filters out the internal effects of education. Then, to isolate external effects, he regresses the resulting wage premiums in industry on average human capital as well as on industry-specific characteristics. Stronger conclusions cannot be drawn, but the analysis does not reject the hypothesis that external effects are present.This paper - a product of the Education and Social Policy Department - is part of a larger effort in the department to apply economic analysis in the education sector.
April 1995 A model of endogenous growth is used to test the effect of education on wage differentials. The presence and persistence of substantial wage differentials between industries has been documented. Differences between wages in different industries could result from (1) the normal functioning of competitive labor markets (compensating differential levels of human capital), (2) institutional factors, such as the presence of a union, and (3) efficiency wages paid in some industries (employers finding they can increase profits by paying workers above-market wages). Using a testable model of endogenous growth, Sakellariou analyzes microdata from the Guatemala Household Survey to estimate the external effects of education. First, he estimates a wage equation and filters out the internal effects of education. Then, to isolate external effects, he regresses the resulting wage premiums in industry on average human capital as well as on industry-specific characteristics. Stronger conclusions cannot be drawn, but the analysis does not reject the hypothesis that external effects are present. This paper--a product of the Education and Social Policy Department--is part of a larger effort in the department to apply economic analysis in the education sector.
Abstract: "Loening investigates the impact of human capital on economic growth in Guatemala during 1951-2002 using an error-correction methodology. The results show a better-educated labor force having a positive and significant impact on economic growth. Consistent with microeconomic studies for Guatemala, primary and secondary education are most important for productivity growth. These findings are robust while changing the conditioning set of the variables, controlling for data issues and endogeneity. Due to an environment of social and political conflict, however, total factor productivity has been slightly negative for the past decades, and there is evidence of a missing complementarily between the country's skills and its technology base. The author presents a growth-accounting framework which takes into account quality changes of physical capital, and differentiates by level of education. It shows that the human capital variables explain more than 50 percent of output growth. Of these, secondary schooling is the predominant determinant of growth."--World Bank web site.
"The transition to market in Slovenia created labor displacements that were on par or greater than that experienced in North America in the 1980s. A simple theoretical model suggests that factors which raise the probability of layoff should also increase the probability of a quit, predictions that are borne out in data. Probability of both layoffs and quits fell with worker tenure, firm profitability and expected severance costs. Individuals facing a higher probability of displacement accepted slower wage growth than otherwise comparable workers. The incentives to avoid displacement were strong -- workers that actually were displaced faced a slow process of transiting out of unemployment with only one-third finding reemployment. Correcting for selection, real wage losses for displaced workers are comparable to those reported for displaced workers in North America"--Forschungsinstitut zur Zukunft der Arbeit web site.