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The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 7 The OLS estimates of earning function using years of schooling and level of education.

From: Return to education and financial value of investment in higher education in Indonesia

Variable PooledMaleFemale
YearsLevelYearsLevelYearsLevel
(1)(2)(3)(4)(5)(6)
Constant7.767,363 (0.071)***8.336,806 (0.058)***7.770,708 (0.090)***8.414,423 (0.074)***7.805,618 (0.111)***8.304,402 (0.091)***
Year schooling0.08918 (0.003)*** 0.096,407 (0.005)*** 0.078914 (0.005)*** 
Junior HS 0.18405 (0.029)*** 0.142827 (0.039)*** 0.182,073 (0.043)***
Senior HS 0.466,372 (0.028)*** 0.447,605 (0.037)*** 0.409,171 (0.043)***
College 0.908,944 (0.037)*** 1.02,497 (0.051)*** 0.804,217 (0.055)***
Exp0.01,256 (0.004)***0.013,922 (0.004)***0.018,512 (0.005)***0.020,914 (0.005)***0.010,172 (0.006)*0.011,435 (0.006)**
Exp_sq− 0.0003 (0.000)***− 0.0003 (0.000)***− 0.0003 (0.000)***− 0.0004 (0.000)***− 0.0004 (0.000)***− 0.0004 (0.000)***
Tenure0.034 (0.003)***0.034 (0.003)***0.030 (0.004)***0.030 (0.004)***0.033 (0.005)***0.033 (0.005)***
Tenure_sq(0.001) (0.000)***(0.001) (0.000)***(0.001) (0.000)***(0.001) (0.000)***(0.001) (0.000)***(0.001) (0.000)***
Rural− 0.13,557 (0.021)***− 0.137 (0.021)***− 0.132 (0.028)***− 0.136 (0.028)***− 0.144 (0.031)***− 0.147 (0.031)***
R-Squared0.07340.0740.0810.0850.0730.074
N14,85214,8527612761272407240
  1. Estimates results for levels of education (columns 2, 4 and 6) used dummy of Primary school as a baseline
  2. Robust standard error reported
  3. *** significant at 1%, ** significant at 5%, * significant at 10%