Implication ─ The policy should aim to enhance human capital by improving knowledge, cognitive and non-cognitive capacities to assist students in achieving their full potentials. In addition, the relationship between education and earning is nonlinear, suggesting that the returns on education varied across education levels. Using the Indonesian labour data from the 5th wave of Indonesian Family Life Survey (IFLS), the 2-Stage Least Squares is employed to measure the effects of schooling, cognitive and non-cognitive skills on earnings.įindings ─ The results show that schooling and skills, both cognitive and personality traits determine the labour market outcomes. Methods ─ A revised Mincer Model serves as a theoretical framework to explain the contribution of schooling and skills to earnings.
Importantly, this study captures the importance of observing cognitive skills and non-cognitive skills associated with personality traits in determining earnings. Purpose ─ This study examines the contribution of schooling and skills to earnings. Tri Mulyaningsih1*, Dhian Adhitya2, Amelia Choya Tia Rosalia3Įconomic Journal of Emerging Markets, 13(2) 2021, 168-177
Using paper titled: "Education, skills, and labour market outcome in Indonesia: An instrumental variable approach"
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