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Start Over Author "Chen, Yeng" Journal international advances in economic research
4 results on '"Chen, Yeng"'

3. Educational choice, wage determination, and rates of return to education in Taiwan

Author

Chen-Yeng Chao and Yih-chyi Chuang

Subjects
Estimation, Selection bias, Rate of return, Economics and Econometrics, media_common.quotation_subject, Wage, Ordered probit, Multivariate probit model, Probit model, Economics, Econometrics, Survey data collection, General Economics, Econometrics and Finance, media_common
Abstract

This paper estimates educational choice, wage determination, and the rate of return to education in Taiwan using Taiwan's Manpower Utilization Survey data of 1996. As education investment is a self-selection process, this paper adopts a two-stage estimation method. First, a polychotomous ordered probit model is used to estimate the education decision. Second, the wage equations of different educational attainments are estimated by incorporating the possible selection bias obtained in the probit model. Finally, rates of return on each education level are calculated from the estimation results.

Published
2001

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