Lorraine Dearden|Steven McIntosh|Micha? Myck|Anna Vignoles
The Returns to Academic and Vocational Qualifications in Britain
Institute for Fiscal Studies|London School of Economics and Political Science|Institute for Fiscal Studies|London School of Economics and Political Science
paper uses data 1991 sweep national child development study ncds 1998 labour force survey lfs provide comprehensive analysis labour market returns academic vocational qualifications results show wage premia academic qualifications typically higher vocational qualifications however gap reduced somewhat control amount time taken acquire different qualifications particularly important vocational courses generally take shorter time periods complete paper also investigate returns vary gender subsequent qualifications natural ability individuals finally comparing ncds results lfs estimate bias result controlling factors ability family background measurement error results reveal estimated returns ncds equations controlling ability family background measurement error similar simple ols estimates obtained lfs control factors suggests biases generally offset one another