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    Rights statement: This is a pre-copy-editing, author-produced PDF of an article accepted for publication in CESifo Economic Studies following peer review. The definitive publisher-authenticated version Giuseppe Migali, Ian Walker; Estimates of the Causal Effects of Education on Earnings over the Life Cycle with Cohort Effects and Endogenous Education, CESifo Economic Studies, Volume 64, Issue 3, 1 September 2018, Pages 516–544, https://doi.org/10.1093/cesifo/ifx020 is available online at: https://academic.oup.com/cesifo/article/64/3/516/4773953

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    Embargo ends: 22/12/19

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Estimates of the causal effects of education on earnings over the lifecycle with cohort effects and endogenous education

Research output: Contribution to journalJournal article

Published
<mark>Journal publication date</mark>1/09/2018
<mark>Journal</mark>CESifo Economic Studies
Issue number3
Volume64
Number of pages29
Pages (from-to)516-544
Publication statusPublished
Early online date22/12/17
Original languageEnglish

Abstract

We estimate the wage premia associated with educational attainments focusing on the lifecycle pattern of earnings. We employ a model where educational attainment is discrete and ordered and log wages are determined by a simple function of work experience for each level of attainment. We distinguish between lifecycle and cohort effects by exploiting the fact that we have a short panel. We find that age earnings profiles lose the traditional bell shape and become flat when we allow for cohort differences. Females still have higher college premia compared to males. However, there are clear earnings inequalities between cohorts with smaller college premia for younger compared to older cohorts, for both males and females.

Bibliographic note

This is a pre-copy-editing, author-produced PDF of an article accepted for publication in CESifo Economic Studies following peer review. The definitive publisher-authenticated version Giuseppe Migali, Ian Walker; Estimates of the Causal Effects of Education on Earnings over the Life Cycle with Cohort Effects and Endogenous Education, CESifo Economic Studies, Volume 64, Issue 3, 1 September 2018, Pages 516–544, https://doi.org/10.1093/cesifo/ifx020 is available online at: https://academic.oup.com/cesifo/article/64/3/516/4773953