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Harry A Patrinos and George Psacharopoulos
''Estimating returns to education: back to the short-cut''
( 2023, Vol. 43 No.3 )
Estimates of the rate of return to investment in education have been the subject of an explosive literature in recent years papers. Most estimates come from the Mincerian earnings function. A less well-known method – the short-cut – offers an efficient means of quickly estimating returns with limited data. It has the added benefit of allowing for easy incorporation of public costs of schooling. Only needing grouped earnings by level of education the short-cut method the method is becoming popular again, especially in cases where lack detailed data, especially in developing countries.
Keywords: Returns to education, wages, short-cut
JEL: I2 - Education: General
J3 - Wages, Compensation, and Labor Costs: General
Manuscript Received : May 14 2023 Manuscript Accepted : Sep 30 2023

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