22 SES 04 B, Students' Readiness and Expectations
Investing in education plays a crucial role in economic development because sustainable economic growth requires a population with high level of education and skills. Young people in countries with an education system with a strong connection to the labor market, such as Germany, have a higher probability of finding employment and social stability, than countries where the dynamics between system and vocational skills are degraded. The differences in educational returns show that the success or failure of educational orientation depends on the complex interaction between policies and institutions demarcated in each national context. We intend to develop a model of multivariate analysis (regression analysis) that can show the differences between the returns to education of young people in vocational education in different directions and thus the probability of finding a job. The desired empirical research demonstrates a model of analysis of the impact of vocational education in the labor market. Current investigations are determined by the costs and benefits of education, instead of determining the monetary costs and educational benefits. These analyzes are based on a perfect environment for economic adjustment (Mincer, 1974). Many investigations neglect variables of the current return. Assuming the importance of the statistical model of Mincer, seek to determine a model that is able to show new assumptions taking into account the new variables. Based on an environment of uncertainty about choices and pathways of young people in analysis, lead us to the realization of a nonlinear model of educational returns. For a given speech people respond in different ways, and there is a unique effect of educational policies therefore analyze this investigation under a heterogeneous model of educational returns and, therefore, we intend to introduce a variable in our regression model that permits reflect on the variability of educational policy (Carneiro, Heckman, 2003). There is some literature that specifies the individual educational returns of individuals in the society. Finalizing that the higher the level of education increased the likelihood of finding a job with a higher salary and investment (Hanusheck, 2011; Dearden, 2002; Mcintosh, 2006; Blunded, 2005, Card, 1999; Harmon, 1995). Many authors such as Wolter and Ryan (2011), Hanushek and Wobmann (2008) and Ryan (2012), stress the importance of vocational education in the promotion of skills and investment in the labor market (Smith, 2013). Other demarcate up this view, emphasizing the idea that it is necessary to invest in the importance of education as a basic knowledge of mathematics, science and literature (Krueger and Kumar, 2004). Author, Katz and Kearney (2008) demonstrated that in the USA increased educational feedback is an important component of inequality. Ryan (2012) showed that there is a positive effect on the education of young people return to vocational education, compared with those who do not have the 12 years of study. The theoretical model, which underlies, this research is the model of Pissarides (1979), Mincer (1974) and Becker (1964). Characterized in the Mincer regression (1974) model, the equation Effect i =βXi + δVOCi + σSi +εi. Take as VOCI variable - the years of youth in vocational education. (Obtaining the value 1 if the young i have a vocational education and 0 if the young i holds a general education by means of study), and i Effect will be considered as the effect of the labor market as unemployment, Xi is characterized by a set of variables. A positive effect of δ will be considered a benefit of vocational education on teaching general way, the effect is favorable (Gustman and Steinmeeir (1980.)
Pissarides, C.A. (1979). Job matching with state employment agencies and random search. Economic journal, December 1979, Vol. 89, No 356, pp.818-833. http://www.jstor.org/stable/2231501 [accessed 8.4.2013]. reform in the European Union. CESifo economic studies, March 2012, Vol.58, No 1, pp. 73-109. http://dx.doi.org/10.1093/cesifo/ifr032 [accessed research, Vol. 54, No 3, pp. 249-274. Ryan, C. (2002). Individual Returns to Vocational Education and Training Qualifications. NCVER, Adelaide. Card, D. (1999) Education and Earnings. In O. Ashenfelter and D. Card (eds), Handbook of Labor Economics. Amsterdam and New York: North Holland. Carneiro,P.,Heckman, J.J. (2003). Empirical Estimates of the Returns to Schooling. Chicago University: NSF 97-09-873, NSF-SES-0099195, NICHD- 40-4043-000-85-261. Cedefop (2012). From education : to working life. Luxembourg: Publications Office. Dearden, L.; McIntosh, S.; Myck, M., Vignoles, A. (2002). The returns to development. Journal of economic literature, Vol. 46, No 3, pp. 607-668. discussion paper; 6083. Goldin, C. (2000) .The Human-Capital Century and American Leadership: Virtues of the Past.Journal of Economic History 61(2): 263-292 Gustman, A.L.;Steinmeeir, TL. (1980). Labor markets evaluations training programs in the public high schools – toward a framework for analysis. Massachusetts: Cambridge University Press for National Bureau of Economic Research. Hanusheck, E.; Woessmann, L.; Zhang, L. (2011). General education, vocational education and labour market outcomes over the life cycle. IZA Hanushek, E.A.; Wößmann, L. (2012). The economic benefit ofeducational Harmon, C. and Walker, I. (1995) Estimates of the Economic Return to Schooling for the United Kingdom. American Economic Review, 85, 1278–1286. Harmon, C., Oosterbeek, H., Walker, I. (2002).The returns to education: microeconomics. Journal of economics survey 17(2): 115:141 Krueger, D. and K. Kumar (2003a) .Skill-specific rather then General Education: A Reason for US-Europe Growth Divergences? NBER.9408 Krueger, D. and K. Kumar (2003b) .US-Europe Di¤erences in Technology-Driven Growth:Quantifying the Role of Education.NBER Working Paper 10001 Mcintosh, S. (2006). Further analysis of the returns to academic and vocational qualifications. Oxford bulletin of economics and statistics, Vol. 68, Issue 2, pp. 225-251. Mincer, J.(1974). Schooling, Experience and Earnings. New York: Columbia University Press for National Bureau of Economic Research.
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