Returns To Education During And After The Economic Crisis: Evidence From Latvia 2006–2012
Journal Title: Comparative Economic Research. Central and Eastern Europe - Year 2017, Vol 20, Issue 1
Abstract
We employ EU-SILC micro data for Latvia to study how returns to education changed during the economic crisis of 2008–2009 and afterwards. We found that returns to education increased significantly during the crisis and decreased slightly during the subsequent economic recovery. The counter-cyclical effect was evident in nearly all population groups. After the crisis, education became more associated than before with a longer working week and a higher employment probability. Furthermore, we show that returns to education in Latvia are generally higher in the capital city and its suburbs than outside the capital city region, as well as for citizens of Latvia than for resident non-citizens and citizens of other countries, but lower for males and young people. Wage differential models reveal a relatively large wage premium for higher education and a rather small one for secondary education. Estimates obtained with instrumental variable (IV) models significantly exceed the OLS estimates.
Authors and Affiliations
KARLIS VILERTS, OLEGS KRASNOPJOROVS, EDGARS BREKIS
Keywords
Related Articles
- EP ID EP323000
- DOI 10.1515/cer-2017-0008
- Views 72
- Downloads 0
Do Callable Convertibles Support The Investment Process Of A Company? An Analysis Of The World Market Of Hybrid Debt
Using a sample of 1,705 convertible bonds issued by manufacturing and service companies from the United States (1,138 issues); Europe (270); and Asia (297) between 2004 and 2014 this paper investigates the role of callab...
Policies Supporting Innovation In The European Union In The Context Of The Lisbon Strategy And The Europe 2020 Strategy
In the context of increasing globalization, global competition and rapid change the EU sees innovation and its commercialization as an effective way to build long-term global competitive advantage. Innovation policy is a...
Determinants Of Productivity Of Ukrainian Firms
This paper examines the determinants of total factor productivity (TFP) of Ukrainian firms in manufacturing and services, using micro-level data for the years 2005 and 2013. We first estimate regressions for the pooled d...
Millenium Development Goals/UN And Sustainable Development Goals/UN As Instruments For Realising Sustainable Development Concept In The Global Economy
This article presents the results of analysis and evaluation of the main effects of the implementation of the eight UN Millennium Development Goals, in force until 2015, and to demonstrate differences between and prospec...
Reduction Of An Economy's Raw Material Dependence And The Human Capital Of A Country
This paper evaluates the raw material dependence of two export-oriented oil and gas extracting countries. We find evidence of presence of the Dutch disease in both countries and of the resource curse in Russia. Reduction...