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More Education, Less Volatility? The Effect of Education on Earnings Volatility over the Life Cycle

Judith Delaney () and Paul Devereux ()

No 201723, Working Papers from School of Economics, University College Dublin

Abstract: Much evidence suggests that having more education leads to higher earnings in the labor market. However, there is little evidence about whether having more education causes employees to experience lower earnings volatility or shelters them from the adverse effects of recessions. We use a large British administrative panel data set to study the impact of the 1972 increase in compulsory schooling on earnings volatility over the life cycle. Our estimates suggest that men exposed to the law change subsequently had lower earnings variability and less pro-cyclical earnings. However, there is little evidence that education affects earnings volatility of older men.

Keywords: Returns to education; Earnings volatility (search for similar items in EconPapers)
JEL-codes: I26 J01 (search for similar items in EconPapers)
Pages: 46 pages
Date: 2017-10
New Economics Papers: this item is included in nep-edu and nep-eur
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http://hdl.handle.net/10197/9097 First version, 2017 (application/pdf)

Related works:
Journal Article: More Education, Less Volatility? The Effect of Education on Earnings Volatility over the Life Cycle (2019) Downloads
Working Paper: More education, less volatility? The effect of education on earnings volatility over the life cycle (2019) Downloads
Working Paper: More Education, Less Volatility? The Effect of Education on Earnings Volatility over the Life Cycle (2017) Downloads
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