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Research ArticleArticles

Heterogeneous Economic Returns to Postsecondary Degrees: Evidence from Chile

Jorge Rodríguez, Sergio Urzúa and Loreto Reyes
Published online before print November 30, 2015, DOI: https://doi.org/10.3368/jhr.51.2.0213-5474R1
Jorge Rodríguez
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Sergio Urzúa
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Loreto Reyes
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Abstract

We analyze the economic returns to postsecondary degrees in Chile. We posit a schooling decision model with unobserved ability, degree-specific tuition costs, and earnings. We use administrative records to carry out our empirical analysis. Our results show positive average returns to postsecondary education, especially for five-year degrees. However, we also uncover significant heterogeneity. We document how unobserved characteristics (ability) determine the economic benefits of first- and second-best choices, even leading to negative returns to postsecondary degrees. Our findings illustrate the importance of allowing for heterogeneous treatment effects and individual’s choices when examining the returns to education.

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Journal of Human Resources: 58 (5)
Journal of Human Resources
Vol. 58, Issue 5
1 Sep 2023
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Heterogeneous Economic Returns to Postsecondary Degrees: Evidence from Chile
Jorge Rodríguez, Sergio Urzúa, Loreto Reyes
Journal of Human Resources Nov 2015, DOI: 10.3368/jhr.51.2.0213-5474R1

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Heterogeneous Economic Returns to Postsecondary Degrees: Evidence from Chile
Jorge Rodríguez, Sergio Urzúa, Loreto Reyes
Journal of Human Resources Nov 2015, DOI: 10.3368/jhr.51.2.0213-5474R1
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