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The signal and the noise: The impact of the Bologna process on Swiss graduates’ monetary returns to higher education


Glauser, David; Zangger, Christoph; Becker, Rolf (2019). The signal and the noise: The impact of the Bologna process on Swiss graduates’ monetary returns to higher education. Social Inclusion, 7(3):154-176.

Abstract

Using longitudinal data on university leaver cohorts in the period from 2006 to 2016, we investigate the impact of the Bologna reform on Swiss graduates’ returns to higher education. Drawing on the job market signaling model, we expect lower returns for graduates who enter the labor market with a bachelor’s degree. Moreover, we expect that the initial wage difference between bachelor and master graduates will become less volatile over time, since employers constantly update their beliefs about graduates’ employability. Controlling for selection into employment and a number of different signals sent by the graduates, we find a persistent advantage of a master’s over a bachelor’s degree. The new degrees, and especially a bachelor’s degree, did indeed serve as a noisy signal about graduates’ productivity in the first years of the Bologna process.

Abstract

Using longitudinal data on university leaver cohorts in the period from 2006 to 2016, we investigate the impact of the Bologna reform on Swiss graduates’ returns to higher education. Drawing on the job market signaling model, we expect lower returns for graduates who enter the labor market with a bachelor’s degree. Moreover, we expect that the initial wage difference between bachelor and master graduates will become less volatile over time, since employers constantly update their beliefs about graduates’ employability. Controlling for selection into employment and a number of different signals sent by the graduates, we find a persistent advantage of a master’s over a bachelor’s degree. The new degrees, and especially a bachelor’s degree, did indeed serve as a noisy signal about graduates’ productivity in the first years of the Bologna process.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:06 Faculty of Arts > Institute of Sociology
Dewey Decimal Classification:300 Social sciences, sociology & anthropology
Language:English
Date:5 September 2019
Deposited On:31 Oct 2019 10:24
Last Modified:04 Nov 2019 08:56
Publisher:Cogitatio Press
ISSN:2183-2803
OA Status:Green
Publisher DOI:https://doi.org/10.17645/si.v7i3.2100

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