Wage Returns to University Disciplines in Greece: Are Greek Higher Education Degrees Trojan Horses?

46 Pages Posted: 15 Oct 2009

See all articles by Ilias Livanos

Ilias Livanos

Institute for Employment Research

Konstantinos Pouliakas

Cedefop; University of Aberdeen - Business School; IZA Institute of Labor Economics

Abstract

This paper examines the wage returns to qualifications and academic disciplines in the Greek labour market. Exploring wage responsiveness across various degree subjects in Greece is interesting, as it is characterised by high levels of graduate unemployment, which vary considerably by field of study, and relatively low levels of wage flexibility. Using micro-data from recently available waves (2002-2003) of the Greek Labour Force Survey (LFS), the returns to academic disciplines are estimated by gender and public/private sector. Quantile regressions and cohort interactions are also used to capture the heterogeneity in wage returns across the various disciplines. The results show considerable variation in wage premiums across the fields of study, with lower returns for those that have a marginal role to play in an economy with a rising services/shrinking public sector. Educational reforms that pay closer attention to the future prospects of university disciplines are advocated.

Keywords: academic disciplines, wage returns, higher education, Greece

JEL Classification: J24, J31, J38

Suggested Citation

Livanos, Ilias and Pouliakas, Konstantinos, Wage Returns to University Disciplines in Greece: Are Greek Higher Education Degrees Trojan Horses?. IZA Discussion Paper No. 4442, Available at SSRN: https://ssrn.com/abstract=1489265

Ilias Livanos (Contact Author)

Institute for Employment Research ( email )

Coventry CV4 7AL
United Kingdom

Konstantinos Pouliakas

Cedefop ( email )

PO Box 22427
Finikas (Thessaloniki), 55102
Greece

University of Aberdeen - Business School ( email )

Edward Wright Building
Dunbar Street
Aberdeen, Scotland AB24 3QY
United Kingdom

IZA Institute of Labor Economics ( email )

P.O. Box 7240
Bonn, D-53072
Germany

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