How Likely Are College Degrees Not Worth It?

Gomes, Diego B. P.

doi:10.2139/ssrn.3461304

Search citation statements

Order By: Relevance

Paper Sections

Select...

Definition: a Competitive Equilibrium Is1

Citation Types

Supporting

Mentioning

Contrasting

Publication Types

Select...

Article1

Relationship

Self Cite0

Independent1

Authors

Journals

Cited by 1 publication

(1 citation statement)

References 12 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…• Workers are paid their marginal value products in each sector: 12 (4) W j (x, s) = P j h (x, s) γ j .…”

Section: Definition: a Competitive Equilibrium Ismentioning

confidence: 99%

Wages, Human Capital, and Barriers to Structural Transformation

Herrendorf

Schoellman

2018

American Economic Journal: Macroeconomics

View full text Add to dashboard Cite

We document for 13 countries ranging from rich (Canada, United States) to poor (India, Indonesia) that average wages are considerably lower in agriculture than in the other sectors. Moreover, agriculture has less educated workers and lower Mincer returns. We view these findings through the lens of a multi-sector model in which workers differ in observed and unobserved characteristics and sectors differ in their human-capital intensities. We derive expressions for the implied barriers to the reallocation of labor out of agriculture. We find that in our sample these barriers are considerably smaller than what the macro-development literature has argued. (JEL J24, J31, J43, O13, O15, Q10)

show abstract

“…• Workers are paid their marginal value products in each sector: 12 (4) W j (x, s) = P j h (x, s) γ j .…”

Section: Definition: a Competitive Equilibrium Ismentioning

confidence: 99%