ANDERS STENBERG & OLLE WESTERLUND 2015 : 5 Flexibility at a Cost – Should Governments Stimulate Tertiary Education for Adults ?
نویسندگان
چکیده
Most OECD countries experience high unemployment rates and declining growth in higher educational attainment. An often suggested government policy is therefore to allocate resources towards formal schooling for adults. However, returns on such investments are uncertain and the foregone earnings are potentially large. We use Swedish population register data from 1982 to 2011 to estimate average long run earnings returns on higher education for 29to 55-year-olds who enrolled 1992-1993. We find substantial positive estimates, but these only fully emerge after approximately ten years. Nevertheless, calculations indicate that the benefits for society exceed the costs also under fairly pessimistic assumptions. Keywords: Adult education, Human capital, Earnings JEL classification: H30, H52, I20, J24, O30 ∗ The authors gratefully acknowledge the financial support of The Swedish Research Council through the Ageing and Living Condition (ALC) program and the Bank of Sweden Tercentenary Foundation. ♣ SOFI, Stockholm University, SE-106 91 Stockholm, Sweden. Linneaus University, IZA, Bonn. [email protected] ⊗ Department of Economics, Umeå University, SE-901 87 Umeå, Sweden, [email protected]
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