Lindley, J. and McIntosh, S. (2012) Growing within-graduate wage inequality and the role of subject of degree. Research Report. Department of Economics, University of Sheffield ISSN 1749-8368
Abstract
This paper provides a supply and demand analysis for the changes in subject of degree, focussing specifically on the UK but also finding similar descriptive patterns in subject choices for the US. The paper makes a unique contribution to the literature by estimating subject-specific implied relative demand shifts. We find that Maths/Computer graduates are the least substitutable in production, but also that Medical Related, Physical Sciences, and Combined graduates are perfect substitutes in production, relative to non-graduates. Almost 40 percent of the total demand shift for graduates between 1994 and 2011 was for those with STEM degree subjects, with the largest of these being for Maths/Computing degrees which are male dominated. We also find relatively large shifts for Education, Law, Other Social Sciences, Management/Business and Medical degrees. Most of the increase in demand for graduates between 1994 and 2011 was in subjects that are relatively concentrated into a few occupations. Overall, the demand for all graduates has increased at least to the same extent as the large increase in supply, with no sign of declining graduate wage differentials.
Metadata
Item Type: | Monograph |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | The Sheffield Economics Research Paper (SERP) series offers a forum for the research output of the academic staff and research students of the Department of Economics, University of Sheffield. Papers are reviewed for quality and presentation by a departmental editor. However, the contents and opinions expressed remain the responsibility of the authors. All papers may be downloaded free on the understanding that the contents are preliminary and therefore permission from the author(s) should be sought before they are referenced. |
Keywords: | degree subjects; returns to education; supply and demand shifts; |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Department of Economics (Sheffield) > Sheffield Economics Research Papers Series |
Depositing User: | Miss Anthea Tucker |
Date Deposited: | 20 Dec 2012 09:58 |
Last Modified: | 07 Jun 2014 16:46 |
Published Version: | http://www.shef.ac.uk/economics/research/serps/yea... |
Status: | Published |
Publisher: | Department of Economics, University of Sheffield |
Identification Number: | 2012029 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:74825 |