Cambios en los retornos de la educación en Bogotá entre 1997 y 2003

Nohora Forero Ramírez () and Luis Gamboa

Lecturas de Economía, 2007, issue 66, 225-250

Abstract: This paper estimates the returns to education in Bogotá in 1997 and 2003 by means of Heckman’s maximum likelihood methodology. The analytical framework used is Human Capital Theory. Instead of using the ‘Encuesta Nacional de Hogares’ (National Household Survey), as does current literature, we use the ‘Encuesta de Calidad de Vida’ (Life Quality Survey). We found a reduction after the economic recession (1999) in aspects such as the returns to education and the impact of experience in Bogotá between these years. There are also suggestions about a decrease in the labor income and in the hour-income elasticity

Keywords: Mincer equation; returns to education; selection bias; human capital theory (search for similar items in EconPapers)
JEL-codes: C24 J24 J31 J38 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (2)

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Journal Article: Cambios en los retornos de la educación en Bogotá entre 1997 y 2003 (2007)
Working Paper: Cambios en los retornos de la educación en Bogotá entre 1997 y 2003 (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:lde:journl:y:2007:i:66:p:225-250

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