| dc.description.abstract | Education is widely regarded as an important means to enhance individual economic income and social status. Becker (1964) pointed out that the returns on educational investment include direct wage growth; however, the actual impact of education on income growth remains controversial. The rate of return on education varies across different countries, periods, and individuals. Therefore, exploring the impact of education on individual income holds significant theoretical and practical importance.
The source of this research is the ＂ Manpower Utilization Survey ＂ of the Directorate-General of Budget, Accounting and Statistics of the Survey Research Data Archive, from 1978 to 2022, a total of 45 years of original evidence, in-depth analysis, aiming to investigate the effect of years of education on real monthly income. The data covers educational years, monthly income, working hours, marital status, industry, occupation, and region for males aged 25 to 54. The research method employs multiple regression analysis to examine the impact of variables such as years of education on monthly income across different cohorts (Year of Birth). Additionally, the study references the analytical framework of Deaton and Paxson (1994) to separate the age effect, period effect, and cohort effect for more accurate estimates.
The results indicate that years of education have a significant positive impact on income. The age effect shows that educational returns increase with age. The cohort effect reveals differences in educational returns among different cohorts, with later-born cohorts having higher educational returns. The period effect indicates that the impact of years of education on income fluctuates across different years. | en_US |