Description:
<jats:p><p>This paper analyses the evolution of the wage return to tertiary education in Spain,<br />distinguishing between advanced vocational training and university education. Using<br />microdata from the Spanish Structure of Earnings Survey, the study estimates wage equations<br />which, in addition to considering the human capital and the personal and employment<br />characteristics of individuals as causal factors, includes a measure of the excess labour supply<br />of university graduates by region. The results show that the wage differential of the graduate<br />population fell, in general, in the period 1995-2006, and that a relatively high supply of<br />graduates in the regional labour market negatively affects wages in such regions, and that<br />these effects increase over time.</p></jats:p>