Social Returns to Education: Evidence From Italian Local Labor Market Areas

A. Dalmazzo and Guido de Blasio

No 2003/165, IMF Working Papers from International Monetary Fund

Abstract: The paper provides a quantitative assessment of social returns to education in Italy. It shows that, after controlling for individual characteristics, local average human capital is positively correlated with individual wages, with estimated social returns between 2 and 3 percent. This result is robust to alternative estimation methods and does not seem to depend on endogenous sorting. The paper also shows that social returns are higher in the lagged areas of the south of Italy.

Keywords: WP; Mincerian wage-equation approach; wage rate; Mincerian wage-regression approach; wage premium; Education; Wages; Human Capital; physical capital; nominal wage wage differential; productivity shock; composition effect; LLMA characteristic; standard deviation; Labor markets; Manufacturing (search for similar items in EconPapers)
Pages: 32
Date: 2003-08-01
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Citations: View citations in EconPapers (5)

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