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Economic volatility and returns to education in Venezuela: 1992–2002

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Abstract:

Preliminary evidence suggests that the rates of return to education in Venezuela have been declining since the 1970s. This study rigorously estimates the returns to education in Venezuela for the period 1992 to 2002 and links them to earlier available estimates from the 1980s. Consistent cross-sections from the Encuesta de Hogares por Muestro are used to document falling returns to schooling and educational levels until the mid-1990s, followed by increasing returns thereafter. Quantile regression analysis is used to provide further insight into the within skill group changes in returns over time.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/00036840500427338

Affiliations: 1: World Bank, Washington DC, USA 2: School of Humanities and Social Sciences, Nanyang Technological University, Singapore

Publication date: September 20, 2006

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