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| Author: | Fuente, A. de la Jimeno, J.F. |
| Title: | The private and fiscal returns to schooling in the European Union |
| Journal: | Journal of the European Economic Association
2009 : DEC, VOL. 7:6, p. 1319-1360 |
| Index terms: | education european union PAY employment earnings |
| Language: | eng |
| Abstract: | This article examines the private and fiscal returns to schooling in 14 European Union countries. The effects of schooling on wages and employment probabilities are taken into account when estimating the private returns to post-compulsory formal education. These estimates allow for academic failure rates, the direct and opportunity costs of education, and the impact of personal taxes, social security contributions, and unemployment and pension benefits on lifetime earnings. Estimates of fiscal returns capture the long-term effects of a marginal increase in average educational attainment on public finances. |
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