Doumenis, Ioannis G; (1994) Schooling, training and labour market outcomes. Masters thesis (M.Phil), UCL (University College London).

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Abstract

The subject matter of this thesis is the discussion of some economic and econometric issues arising from the effects of schooling and training decisions of individuals - with particular reference to married women - on the probabilities of the various outcomes they face in the labour market. Such outcomes include the states of employment (or unemployment), movement between these states (transition probabilities), the levels of earnings involved in the states. Issues arising out of some non-structural experimental or "quasi"-experimental analyses of the effect of schooling and training programs on the agents' earnings are dealt with in Chapter 2 first. However, once this is done, we should be aware that not only are we unable to fully characterise what likely solutions would we get in terms of individual behaviour - since utility considerations are not analytically embodied or modelled in such a framework - but also that we are not confronting the evolutionary nature of the problem. That is, the choice of whether to remain in schooling or take a period of training is fundamentally dynamic in the sense that it will affect the whole stream of future earnings and employment outcomes. Clearly a dynamic programming approach would be natural. Structural models are dealt with next; we discuss how these place more "structure" on the way agents' utility is affected and how they are concerned with deriving parameter estimates of variables entering the utility functions. Structural models often seem complex. This may be due to an inability to include heterogeneity or state dependence in them. We turn to such issues next. Chapter 3 begins with an exposition of the literature relevant to a model of labour market transitions. This is followed by an empirical application of this model and the effect of schooling thereof using U.S. data. Chapter 4 develops that aspect of transitions in which emphasis is given to the possibility that job offer probabilities received by women are significantly determined by their level of education.

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