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Title: Heterogeneity, Comparative Advantage, and Return to Education: The Case of Taiwan
Authors: Chuang,Yih-Chyi;Lai,Wei-Wen
Contributors: 政大經濟系
Keywords: Heterogeneous human capital;Sorting gain;Selection bias;Return to education;Marginal treatment effect;Average treatment effect
Date: 2010-10
Issue Date: 2013-09-16 17:23:15 (UTC+8)
Abstract: By considering heterogeneity in abilities and self-selection in educational choice, this paper adopts the heterogeneous human capital model to estimate rate of return to university education using data from the 1990 and 2000 Taiwan’s Manpower Utilization Surveys. The Taiwan empirical study shows that significant heterogeneous return to education does exist, and that the educational choice was made according to the principle of comparative advantage. The estimated rates of return for attaining university were 19% and 15%, much higher than the average rate of return of 11.55 and 6.6%, for 1990 and 2000, respectively. The declining trend of return to university education may have been caused by the rapid expansion of the number of colleges and universities and the increasing supply of college graduates in the 1990s.
Relation: Economics of Education Review, 29(5), 804-812
Data Type: article
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