JEJAK
Vol 16, No 2 (2023): September 2023

Estimating the Return on Education: Evidence from Indonesian Survey Data

Muhammad Ciro Danuza (Diponegoro University)
Alfa Farah (Diponegoro University)

Article Info

Publish Date
31 Oct 2023

Abstract

In the Mincerian framework, the return on education shows how an incremental increase in earnings is related to an increase in schooling. Employing a survey data, the Indonesia Family Life Survey Wave 5(IFLS 5), this study attempts to estimate the return on education in Indonesia. The baseline results show that one extra year of schooling increases future earnings by 5.7%. When parental education used as instruments, the IV estimates show a rate of 12%. These results are consistent with the Mincerian framework and the previous studies.

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Journal Info
JEJAK
Website

Abbrev

jejak

Publisher

Universitas Negeri Semarang

Subject

Economics, Econometrics & Finance

Description

JEJAK: Jurnal Ekonomi dan Kebijakan p-ISSN 1979-715X | e-ISSN 2460-5123 is a scientific journal that contains the results of research and theoretical studies in the field of economic development, especially on matters of economic policy in Indonesia was published by the Department of Economic ...