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Flexibility at a cost: Should governments stimulate tertiary education for adults?
Umeå University, Faculty of Social Sciences, Centre for Demographic and Ageing Research (CEDAR). Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics. (Economic Policy Network / ALC)
2016 (English)In: The Journal of the Economics of Ageing, ISSN 2212-828X, Vol. 7, 69-86 p.Article in journal (Refereed) Published
Abstract [en]

Abstract: 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 29- to 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.

Place, publisher, year, edition, pages
Amsterdam: Elsevier, 2016. Vol. 7, 69-86 p.
Keyword [en]
Adult Education, Human Capital, Earnings, Life-long Learning
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Research subject
URN: urn:nbn:se:umu:diva-117106DOI: 10.1016/j.jeoa.2016.01.001ISI: 000377117700009OAI: diva2:905220
Ageing and Living Conditions
Swedish Research Council, 2006-21576-36119-66
Available from: 2016-02-22 Created: 2016-02-22 Last updated: 2016-06-27Bibliographically approved

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Westerlund, Olle
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Centre for Demographic and Ageing Research (CEDAR)Economics

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