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Coping with Change: International Differences in the Returns to Skills

Sep 2016
Working Paper
589
Eric A. Hanushek, Guido Schwerdt, Simon Wiederhold, Ludger Woessmann

Expanded international data from the PIACC survey of adult skills allow us to analyze potential sources of the cross-country variation of comparably estimated labor-market returns to skills in a more diverse set of 32 countries. Returns to skills are systematically larger in countries that have grown faster in the recent past, consistent with models where skills are particularly important for adaption to dynamic economic change.

Geographic Regions: