With its publication of the Thematic Review on the Transition from Initial Education to Working Life in 2000, OECD has laid the foundation for the development of indicators regarding the transition from education to work. One of the core activities of OECD’s Network B in 2005 and 2006 was to...

This article explores the total (measured and unmeasured) effect of education on different socio-economic outcomes. The analysis shows that the usual regression models typically underestimate the effects of education. The effects of education are decomposed into three sources of variation:...