This paper updates evidence on the returns to investment in education by adding estimates for new countries and refining existing estimates to bring the total number of country cases to over 60. The new cross-country evidence confirms and reinforces earlier patterns, namely, that returns are...

This study proposes that the earnings of career employees are influenced by a different set of parameters from the earnings of non-career employees. The above proposition is tested by using a matched employer-employee sample within the econometric ...

Internal rates of return to investment in education are estimated on the basis of the marginal social product of labor instead of the observed earnings. A comparison of the shadow to the actual rates of return to investment in labor skills suggested that privately advantageous decisions with...