Return to Education: Compararive Analysis between Regions and Years

From the middle of the last century and until the present day, the study of the estimating of the returns to education remains one of the most important issues in the Economics of the labour market. Many more estimates from a wide variety of countries, including over-time evidence, and estimates based on new econometric techniques, reaffirm the importance of human capital theory. This paper presents some studies and models of the returns to education, which was considered by scientists in recent decades. Using the Mincer wage equation on the basis of data from the Russian monitoring of economic situation and health of the population (RLMS – HSE), it is evaluated the impact of different levels of education across regions and years in Russia. The extension of the model of Mincer with additional variables allowed to assess the impact on income of various factors: industry and employment, sex, place of residence and type of enterprise. Results were obtained for 2005 and 2015.