Regression, matching, control function and instrumental variables methods for recovering the impact of education on … find an average return of 27% for those completing higher education versus anything less. Compared to stopping at 16 … without qualifications, we find an average return to O-levels of 18%, to A-levels of 24% and to higher education of 48%. …

expected, students who perceive the monetary returns to education to be higher are more likely to intend to continue in full …-time education. However, the main driver is the perceived consumption value, which alone explains around half of the variation of the … intention to pursue higher education. Moreover, the perceived consumption value can account for a substantial part of both the …

assumptions we find convincing evidence of an increase in inequality within education groups, changes in the return to education …