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Returns to Education in Greece: Evidence from the 1977 Labor Market Survey Using the Greek Civil War as an Instrument

Author

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  • Patrinos, Harry Anthony

    (University of Arkansas, Fayetteville)

Abstract
Greece experienced a devastating civil war in 1946-1949. This led to many deaths, economic losses, and severe reductions in schooling expenditures and attendance. Using an instrumental variables approach, we estimate the 1977 returns to schooling, showing that for those affected by the civil war, the returns to schooling are higher than the corresponding least squares estimate.

Suggested Citation

  • Patrinos, Harry Anthony, 2022. "Returns to Education in Greece: Evidence from the 1977 Labor Market Survey Using the Greek Civil War as an Instrument," IZA Discussion Papers 15541, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp15541
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    References listed on IDEAS

    as
    1. Harry Anthony Patrinos & Chris Sakellariou, 2006. "Economic volatility and returns to education in Venezuela: 1992-2002," Applied Economics, Taylor & Francis Journals, vol. 38(17), pages 1991-2005.
    2. Andrea Ichino & Rudolf Winter-Ebmer, 2004. "The Long-Run Educational Cost of World War II," Journal of Labor Economics, University of Chicago Press, vol. 22(1), pages 57-86, January.
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    4. Gaurab Aryal & Manudeep Bhuller & Fabian Lange, 2022. "Signaling and Employer Learning with Instruments," American Economic Review, American Economic Association, vol. 112(5), pages 1669-1702, May.
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    6. Costas Kanellopoulos, 1997. "Public-private wage differentials in Greece," Applied Economics, Taylor & Francis Journals, vol. 29(8), pages 1023-1032.
    7. Lee, Jong-Wha & Lee, Hanol, 2016. "Human capital in the long run," Journal of Development Economics, Elsevier, vol. 122(C), pages 147-169.
    8. Ilias Livanos & Konstantinos Pouliakas, 2011. "Wage returns to university disciplines in Greece: are Greek higher education degrees Trojan Horses?," Education Economics, Taylor & Francis Journals, vol. 19(4), pages 411-445, December.
    9. Ichino, Andrea & Winter-Ebmer, Rudolf, 1999. "Lower and upper bounds of returns to schooling: An exercise in IV estimation with different instruments," European Economic Review, Elsevier, vol. 43(4-6), pages 889-901, April.
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    11. Card, David, 2001. "Estimating the Return to Schooling: Progress on Some Persistent Econometric Problems," Econometrica, Econometric Society, vol. 69(5), pages 1127-1160, September.
    12. Maria Arrazola & Jose de Hevia, 2006. "Gender Differentials in Returns to Education in Spain," Education Economics, Taylor & Francis Journals, vol. 14(4), pages 469-486.
    13. Psacharopoulos, George, 1982. "Earnings and education in Greece, 1960–1977," European Economic Review, Elsevier, vol. 17(3), pages 333-347.
    14. Michael Chletsos & Stelios Roupakias, 2020. "Education and wage inequality before and during the fiscal crisis: A quantile regression analysis for Greece 2006–2016," Review of Development Economics, Wiley Blackwell, vol. 24(4), pages 1333-1364, November.
    15. Arrazola, María & de Hevia, José, 2008. "Three measures of returns to education: An illustration for the case of Spain," Economics of Education Review, Elsevier, vol. 27(3), pages 266-275, June.
    16. Theocharoula Magoula & George Psacharopoulos, 1999. "Schooling and monetary rewards in Greece: an over-education false alarm?," Applied Economics, Taylor & Francis Journals, vol. 31(12), pages 1589-1597.
    17. Kyprianos Prodromidis & Prodromos Prodromidis, 2008. "Returns to education: the Greek experience, 1988-1999," Applied Economics, Taylor & Francis Journals, vol. 40(8), pages 1023-1030.
    18. Colm Harmon & Hessel Oosterbeek & Ian Walker, 2003. "The Returns to Education: Microeconomics," Journal of Economic Surveys, Wiley Blackwell, vol. 17(2), pages 115-156, April.
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    Cited by:

    1. Najam, Rafiuddin & Patrinos, Harry Anthony & Kattan, Raja Bentaouet, 2024. "The Mis-Education of Women in Afghanistan: From Wage Premiums to Economic Losses," IZA Discussion Papers 17279, Institute of Labor Economics (IZA).

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    More about this item

    Keywords

    returns to education; instrumental variables; civil war; Greece;
    All these keywords.

    JEL classification:

    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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