Scandinavian Working Papers in Economics

Umeå Economic Studies,
Umeå University, Department of Economics

No 823: Does Formal Education for Older Workers Increase Earnings? – Analyzing Annual Data Stretching over 25 Years

Anders Stenberg (), Xavier de Luna () and Olle Westerlund ()
Additional contact information
Anders Stenberg: SOFI, Stockholm University, Postal: SE-106 91 Stockholm, Sweden
Xavier de Luna: Department of Statistics, Umeå University, Postal: S 901 87 Umeå, Sweden
Olle Westerlund: Department of Economics, Umeå University, Postal: S 901 87 Umeå, Sweden

Abstract: Governments in the US, Canada and Europe have expressed an ambition to stimulate education of older. In this paper, we analyze if there are effects on annual earnings of formal education for participants aged 42-55 at the time of enrolment in 1994-1995. The analysis explores longitudinal population register data stretching from 1982 to 2007. The method used is difference-in-differences propensity score matching based on a rich set of covariates, including indicators of health and labor market margi-nalization. Results differ from earlier studies, implying no significant average earnings effects for males, positive effects for females, although insufficient to cover total costs.

Keywords: Adult education; Earnings; Government Expenditures; Human capital

JEL-codes: C21; H52; H75; I28

39 pages, April 13, 2011

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