{"title":"The impact of COVID on the rate of return to schooling among US industries","authors":"Yanan Chen, Kyle Kelly","doi":"10.1108/jes-03-2024-0147","DOIUrl":null,"url":null,"abstract":"<h3>Purpose</h3>\n<p>This empirical study aims to examine the COVID impact on the rate of return to schooling in 20 US industries.</p><!--/ Abstract__block -->\n<h3>Design/methodology/approach</h3>\n<p>An extended Mincer earnings equation with the COVID dummy variable and dummy interactive terms is used to examine the COVID effect on the rate of return to schooling for different industries. We use Heckman selection model to account for sample selection bias.</p><!--/ Abstract__block -->\n<h3>Findings</h3>\n<p>During COVID years, the change in the wage differential between college-and-above and below-college workers is different for industries, which leads to different changes in the rate or return to schooling among the 20 industries. During COVID, the rate of return to schooling increased for seven industries, decreased for seven industries and remained the same for six industries.</p><!--/ Abstract__block -->\n<h3>Originality/value</h3>\n<p>There is a lack of empirical tests of recession effects on the rate of return to schooling focusing on industry differentials. This study fills the research gap in this field. Our results will contribute to the ongoing discussion of the COVID impact on wages and returns from human capital investment.</p><!--/ Abstract__block -->","PeriodicalId":47604,"journal":{"name":"JOURNAL OF ECONOMIC STUDIES","volume":"30 1","pages":""},"PeriodicalIF":1.9000,"publicationDate":"2024-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"JOURNAL OF ECONOMIC STUDIES","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/jes-03-2024-0147","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
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Abstract
Purpose
This empirical study aims to examine the COVID impact on the rate of return to schooling in 20 US industries.
Design/methodology/approach
An extended Mincer earnings equation with the COVID dummy variable and dummy interactive terms is used to examine the COVID effect on the rate of return to schooling for different industries. We use Heckman selection model to account for sample selection bias.
Findings
During COVID years, the change in the wage differential between college-and-above and below-college workers is different for industries, which leads to different changes in the rate or return to schooling among the 20 industries. During COVID, the rate of return to schooling increased for seven industries, decreased for seven industries and remained the same for six industries.
Originality/value
There is a lack of empirical tests of recession effects on the rate of return to schooling focusing on industry differentials. This study fills the research gap in this field. Our results will contribute to the ongoing discussion of the COVID impact on wages and returns from human capital investment.
期刊介绍：
The Journal of Economic Studies publishes high quality research findings and commentary on international developments in economics. The journal maintains a sound balance between economic theory and application at both the micro and the macro levels. Articles on economic issues between individual nations, emerging and evolving trading blocs are particularly welcomed. Contributors are encouraged to spell out the practical implications of their work for economists in government and industry
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