Abstract

REYES SANCHEZ, Carlos. Returns to investment in education. An application using government records data. Revista Col. San Luis [online]. 2020, vol.10, n.21, 00011.  Epub Mar 14, 2022. ISSN 2007-8846.  https://doi.org/10.21696/rcsl102120201151.

Returns to investment in education studies the true causal effect of education on individual earnings. This paper uses the Mincer equation to estimate the return to schooling based on government records data. In this case, the measurement of investment in education behaves similar to the estimated rates of return based on surveys, as well as a convex relationship between education and salary, where the return to schooling rate varies among the different educational levels. Also, this paper shows that the rate of returns to education is greater for temporary workers (10.2 percent) than contract workers (6.3 percent).

Keywords : human capital; Mincer model; returns to investment in education.