The Graduate Wage and Earnings Premia and the Role of Non-Cognitive Skills
The Graduate Wage and Earnings Premia and the Role of Non-Cognitive Skills
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毕业生工资和收入溢价以及非认知技能的作用
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发表时间：
2020
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通讯作者：
I. Walker
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作者：
Gerda Buchmueller;I. Walker
对毕业生收入溢价的估计通常不考虑非认知技能的影响。由于这些技能在大多数数据集中是不可观察的，因此人们担心现有的毕业生溢价估计会受到这种不可观察因素的选择的影响。我们使用了一组年轻人的数据，这些数据使我们能够控制非认知技能的影响，我们发现，将非认知技能纳入其中，它们本身共同显着地减少了估计回报，从平均10- 1 - 2%减少了1-2个百分点。我们的第二个贡献是由于在最近的研究中更多地依赖于行政数据集，这些研究集中在年收入而不是小时工资上，我们的结果表明，毕业生的收入差异显著大于工资差异。由于我们使用的估计方法对不可观测的选择不稳健，我们采用了奥斯特（2016）的检验来表明，对不可观测的选择需要一个难以置信的程度，才能使我们估计的工资和收入回报率为零，而回报率的合理下限大约比OLS回报率低四分之一到三分之一。我们进一步发现了广泛的主要群体和精英大学的异质回报，我们发现大学位类差异。
Estimates of the graduate earnings premium typically do not allow for the effect of non-cognitive skills. Since such skills are unobservable in most datasets there is a concern that existing estimates of the graduate premium are contaminated by selection on such unobservables. We use data on a young cohort of individuals that allows us to control for the effects of non-cognitive skills.We find that the inclusion of non-cognitive skills, themselves jointly significantly positive reduces the estimated returns by an insignificant 1-2 percentage points from an average of 10-12%. Our second contribution is motivated by the greater reliance on administrative datasets in recent research that has focused on annual earnings rather than hourly wages and our results show that the graduate earnings differential is significantly greater than the wage differential.Since we use estimation methods that are NOT robust to selection on unobservables, we adopt Oster (2016) tests to show that it would take an implausible degree of selection on unobservables to drive our estimated wage and earings returns to zero, and that a plausible lower bound to returns is around one-quarter to one-third below the OLS returns. We further find heterogeneous returns by broad major group and elite university, and we find large degree class differentials.