RETORNOS LABORALES A LA EDUCACIÓN EN LA ARGENTINA EVOLUCIÓN Y ESTRUCTURA ACTUAL.

This paper estimates the private (individual) returns on education. The analysis is done for Argentina for the year 2001 and the period 2003-2006, and for the region of Gran Buenos Aires for the period 1974-2006. The paper addresses some usual problems that arise when assuming that the return rate estimated reflects the real return of an educative investment: Data selection, the determination of the dependent variable, the model specification and the estimation strategy. The paper finds that ignoring the complexity of the work performed by the individuals in the calculation (a common omission in this kind of research) substantially overestimates the pecuniary labor returns on education. [ABSTRACT FROM AUTHOR]