The demographic cycle and optimal schooling choices
Jeon, B.P.; Berger, M.C.
Southern Economic Journal 63(2): 301-311
1996
ISSN/ISBN: 0038-4038 PMID: 12292025 DOI: 10.2307/1061169Document Number: 303208
A model is developed that enables the authors to estimate the effects of demographic cycles on both earnings and schooling. The model is tested using data from the 1991 Korean Occupational Wage Survey. The results indicate that cohorts following large birth cohorts in the cycle choose relatively less formal schooling compared to pre-peak cohorts, and that post-peak cohorts also have lower incomes. This result concerning South Korea is consistent with findings from previous studies concerning the United States.