Wage Returns to Colombia: a Quantile Analysis

Main Article Content

Autores

Cristian Dario Castillo Robayo http://orcid.org/0000-0001-7569-1860
Julimar Da Silva Bichara
Manuel Pérez Trujillo

Abstract

This article examines the wage returns of young people and adults, considering the effect of education and experience. It is taken into account, especially, the point of view of human capital theory and its criticisms, to evaluate the relationship between education, experience and salary. The empirical analysis is based on the Mincer model, but through quantile regressions, to determine by 10 quantiles in each group as wage returns are given. It is verified that for young people there is greater impact of acquire experience than education on the wage returns, which affects labor insertion and obtaining higher income.

Keywords:

Article Details

Licence

By submitting articles for evaluation, the author agrees to transfer the publishing rights to Revista Apuntes del CENES for publishing in any format or mean and that the attached partial use license will be signed. To increase their visibility, documents are sent to databases and indexing systems also can be viewed on the website and Redalyc - EBSCO - ProQuest - EconLit - DOAJ -  Scielo - Dialnet - ESCI(WoS) - Latindex  - DOTEC - REPECERIH PLUS - The WZB library -  Actualidad Iberoamericana  -   Publindex  - VCU -  Econpapers - EconBib - Bibilat  -  REDIB  -   Crossref - Worldcat -  CLASE - SHERPA ROMEO - Academia - EconBiz - Socionet - Vlex

The journal is under licence Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)

For CC licenses, the principle is the creative freedom. This system complements the copyright without oppose it. The content of the items is the responsibility of each author, and does not compromise in any way, magazine or institution.

Publishing and reproduction of titles, abstracts and full content for academic, scientific, cultural and nonprofit purposes is allowed, when the respective source is acknowledged. This work cannot be used for commercial purposes.

Apuntes del Cenes is an open access journal which means that all content is freely available without charge to the user or his/her institution. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles, or use them for any other lawful purpose, without asking prior permission from the publisher or the author. This is in accordance with the BOAI definition of open access.

Apuntes del Cenes  does not charge authors for submission or publication

Form 6 Copyright Transfer Form

When sending an article to submit to the Apuntes del CENES journal, the author(s) certify and accept:

1.That the article has not been accepted for evaluation in another journal, nor has it been published.
2.That, in case a publication of a previous version as a working paper (or 'gray literature') has been reported on a website, and that, in the case of publication being accepted, it will be removed from the Internet site, where
will leave only the title, abstract, keywords and hyperlink to the journal.

3.
That once published in Apuntes del CENES will not be published in another magazine.

References

Arrow, K. J. (1973). Higher Education as a Filter. Journal of Public Economics, 2(3), 193216.

Azariadis, C. & Drazen, A. (1990). Threshold Externalities in Economic Development. The Quarterly Journal of Economics, 501-526.

Azariadis, C. & Stiglitz, J. E. (1983). Implicit Contracts and Fixed Price Equilibria. The Quarterly Journal of Economics, 2-22.

Barro, R. J. & Lee, J. W. (2001). International Data on Educational Attainment: Updates and Implications. Oxford Economic Papers, 53(3), 541-563.

Becker, G. S. (1964a). Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education. Illinois, USA: University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship.

Becker, G. S. (1964 b). Human Capital Theory. New York: Columbia.

Benito, S. M. R., Trujillo, M. P., Ortiz, L. P., Lasierra, J. M., & da Silva

Bichara, J. (2014). Economía del trabajo y política laboral. Madrid: Pirámide.

Berger, S. & Piore, M. J. (1980). Dualism and Discontinuity in Industrial Societies. Cambridge, MA: Cambridge University Press.

Blackburn, M. L. & Neumark, D. (1991). Omitted-ability bias and the Increase in the Return to Schooling (No. w3693). Cambridge, MA: National Bureau of Economic Research.

Blanchflower, D. G. & Oswald, A. J. (1995). An Introduction to the Wage Curve. The Journal of Economic Perspectives, 153-167.

Boissiere, M., Knight, J. B. & Sabot, R. H. (1985). Earnings, schooling, ability, and cognitive skills. The American Economic Review, 75(5), 1016-1030.

Brown, C., & Medoff, J. L. (1989). The Employer Size-Wage Effect (No. w2870). Cambridge, MA: National Bureau of Economic Research.

Buchinsky, M. (1994). Changes in the US Wage Structure 1963-1987: Application of Quantile Regression. Econometrica: Journal of the Econometric Society, 405-458.

Buchinsky, M. (1998). Recent Advances in Quantile Regression Models: A Practical Guideline for Empirical Research. Journal of Human Resources, 88-126.

Cahuc, P., Carcillo, S., Zylberberg, A. & McCuaig, W. (2014). Labor Economics. Cambridge, MA: MIT Press.

Castellar, C. & Uribe, J. (2003). La tasa de retorno de la educación: teoría y evidencia micro y macroeconómicas en el área metropolitana de Cali. Documento de Trabajo, (3090).

Collins, R. (1986). Las teorías técnico-funcionalista y credencialista de la estratificación educativa. Revista Educación y Sociedad, (5).

Doeringer, P. B. & Piore, M. J. (1983). El paro y el mercado dual de trabajo. En L. Toharia (comp.) El mercado de trabajo: teorías y aplicaciones (pp. 341-388). Madrid: Alianza.

Fitzenberger, B., Hujer, R., & MaCurdy, T. Schnabel, R. (2001). Las pruebas de las tendencias salariales uniformes en Alemania Occidental: un análisis de cohortes utilizando regresiones por cuantíles para datos censurados. Empírica Economía, 26, 41-86.

Flórez, A. La desigualdad salarial de género medida por regresión cuantílica: el impacto del capital humano, cultural y social. Revista Mexicana de Ciencias Políticas y Sociales, 60(223), 287-315.

Freitas, A. A. (2015). La desigualdad salarial de género medida por regresión cuantílica: el impacto del capital humano, cultural y social. Revista Mexicana de Ciencias Políticas y Sociales, 60(223), 287-315.

Galvis, L. A. (2010). Diferenciales salariales por género y región en Colombia: una aproximación con regresión por cuantiles. Revista de Economía del Rosario, 13(2).

Katz, D. & Kearney, M. (2004). US Wage and Consumption Inequality Trends: A Reassessment of Basic Facts and Alternative Explanations. Working Paper. Cambridge, MA: Massachusetts Institute of Technology.

Kerr, C. (1985). Mercados de trabajo y determinación de los salarios: la "balcanización" de los mercados de trabajo y otros ensayos. Madrid: Ministerio de Trabajo y Seguridad Social.

Keynes, J. M. (2007). The General Theory of Employment, Interest and Money. New Delhi, India: Atlantic Publishers & Dist.

Knight, J. B. (1979). Job Competition, Occupational Production Functions, and Filtering Down. Oxford Economic Papers, 31(2), 187-204.

Koenker, R. & Bassett Jr, G. (1978). Regression quantiles. Econometrica: Journal of the Econometric Society, 33-50.

López, H. A. & Mora, H. M. (2007). Cálculo de los estimadores de regresión cuantílica lineal por medio del método ACCPM. Revista Colombiana de Estadística, 30(1), 53-68.

Lucas, R. E. (1988). On the Mechanics of Economic Development. Journal of Monetary Economics, 22(1), 3-42.

Malcomson, J. M. (1981). Unemployment and the Efficiency Wage Hypothesis. The Economic Journal, 848-866.

Mankiw, N. G., Romer, D. & Weil, D. N. (1990). A Contribution to the Empirics of Economic Growth (No. w3541). Cambridge, MA: National Bureau of Economic Research.

Mincer, J. (1974). Schooling, Experience and Earnings. Human Behavior & Social Institutions, (2).

Mora, J. J. (2003). Sheepskin effects and screening in Colombia. Colombian Economic Journal, 1(1), 95-108.

Mushkin, S. J. (1962). Economics of Higher Education. USA: US DHEW.

Nielsen, H. S. & Rosholm, M. (2001). The Public-Private Sector Wage Gap in Zambia in the 1990s: A Quantile Regression Approach. In Economic Applications of Quantile Regression (pp. 169-182). Heidelberg, Germany: Physica-Verlag HD.

Piore, M. J. (1983). Labor Market Segmentation: To What Paradigm does it belong? The American Economic Review, 249-253.

Prada, C. F. (2006). ¿Es rentable la decisión de estudiar en Colombia? Ensayos sobre Política Económica, 24(51), 226-323.

Psacharopoulos, G. (1994). Returns to Investment in Education: A Global Update. World Development, 22(9), 1325-1343.
Ruesga, S., Pérez, L., Pérez, M., Lasierra, J. & Bichara, J. (2014). Economía del trabajo y política laboral. Madrid: Pirámide.

Schmid, G. (2008). Full Employment in Europe: Managing Labour Market Transitions and Risks. Northampton, MA: Edward Elgar Publishing.

Schultz, T. W. (1961). Investment in human capital. The American economic review, 1-17.

Selowsky, M. (1968). The Effect of Unemployment Labour-Market Segmentation and the Returns to Educated: The Case of Colombia. Boston, MA: Harvard University Centre for International Affairs.

Solow, R. M. (1956). A Contribution to the Theory of Economic Growth. The Quarterly Journal of Economics, 65-94.

Spence, M. (1973). Job Market Signaling. The Quarterly Journal of Economics, 355-374.

Stanford University, Institute for Mathematical Studies in the Social Sciences & Stiglitz, J. E. (1975). Information and Economic Analysis. Stanford, CA: Stanford University.

Stiglitz, J. E. (1984). Equilibrium wage distributions (No. w1337). Cambridge, MA: National Bureau of Economic Research.

Taubman, P. & Wales, T. (1972). Mental Ability and Higher Educational Attainment in the 20th Century. New Jersey: McGrsw Hill.

Tenjo, J. (1993). Evolución de los retornos a la inversión en educación 1976-1989. Planeación y Desarrollo, 24(85), 102.

Thurow, L. (1983). Dangerous Currents: The State of Economics. Oxford, UK: Oxford University Press OUP Catalogue.

Uribe, J. I., Ortiz, C. H. & García, G. A. (2006). La segmentación del mercado laboral colombiano en la década de los noventa. Bogotá: DNP.

Vargas, C. O. (2011). Desigualdad de salarios en Colombia: evidencia a partir de encuestas de hogares 1984–2010 (No. 661). Bogotá: Banco de la República de Colombia.

Vélez, F. A. (2011) Robustez a distribución para regresión cuantílica en datos longitudinales. Tesis para optar al título de magíster en estadística. Universidad Nacional de Colombia, Bogotá.

Wilcoxon, F. (1945). Individual Comparisons by Ranking Methods. Biometrics Bulletin, 1(6), 80-83.

Zárate, H. (2003). Cambios en la estructura salarial: una historia desde la regresión cuantílica. Borradores de Economía, Banco de la República, (245).

Zuluaga, B. & Manzur, E. (2012). Notas de clase sobre el mercado laboral y las políticas de empleo (No. 010743). Cali, Colombia: Universidad ICESI.

Downloads

Download data is not yet available.