What is the Relationship Between Human Capital Investment and Wage Rate, and What is the Optimal Level of Education?
Cardiff Metropolitan University
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Abstract This paper aims to provide a look at how strongly wage is affected by education and to what level individuals should undergo education. Using other important variables, I take into account endogeneity and other problems that arise with wage and education levels. Results show that there is an indication for a strong positive relationship between human capital and wage level, and that through individual interpretation of the results an optimal education point can be discovered.
BScEcon Hons International Economics and Finance