Ammermueller, Andreas; Kuckulenz, Anja; Zwick, Thomas - In: Economics of Education Review 28 (2009) 2, pp. 217-226
Aggregate unemployment may affect individual returns to education through qualification-specific responses in participation and wage bargaining. This paper shows that an increase in regional unemployment by 1% decreases returns to education by 0.005 percentage points. This implies that higher...