Turning to the estimates of those with a prior two-year upper secondary
education, these are based on a larger number of observations and display more
coherent marginal returns to AE credits. In the full samples, there appears to be
no positive payoff until at least 500 credits are attained. This impression
changes when annual earnings are conditioned to be 100,000 before and after
enrolment. The parameter values of males then imply an annual earnings
growth already from very few credits. There is a less pronounced but similar
tendency for females, with 251-500 credits found to have positive returns sig-
nificant at a ten per cent level.
IFAU - Does adult education at upper secondary level influence annual wage earnings?
29