This article revisits the Mincer earnings function and presents comparable estimates of the average monetary returns associated with an additional year of education across different regions worldwide. In contrast to the traditional Ordinary Least Squares (OLS) method commonly employed in the literature, this study applied a cutting-edge approach…

A nation's culture, competitiveness and economic performance explain academic performance. Partial Least Squares (PLS) testing of 2252 students shows culture affects competitiveness and academic performance. Culture and economic performance each explain 32%; competitiveness 36%. The model predicts academic performance when culture, competitiveness…

A cost-benefit model for calculating private rates of return to education uses existing wage structure, cost of education, and risk premiums for school dropout. A Swiss study applying the model shows that, once educational costs are deducted, wage earning advantages for different educational levels are insignificant. (SK)