Wage Returns to Colombia: a Quantile Analysis

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 empiri...

Full description

Bibliographic Details
Main Authors:	Castillo Robayo, Cristian Dario, Da Silva Bichara, Julimar, Pérez Trujillo, Manuel
Format:	Online
Language:	spa
Published:	Universidad Pedagógica y Tecnológica de Colombia 2017
Subjects:	wage return human capital quantile regression education experience retorno salarial capital humano regresión cuantilica educación experiencia.
Online Access:	https://revistas.uptc.edu.co/index.php/cenes/article/view/5830

Description
Summary:	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.