Education, experience and gender differentiation as determinants of wages in Bogota

Abstract

Education is a process that allows a comprehensive education in subjects that not only allows to acquire knowledge, but also develop skills, abilities and skills that make them more productive activities. Thus the aim of this work is to analyze the relationship of education, experience and gender as determinants of labor income in Bogota for 2003, using as a framework the Mincer model using Ordinary Least Squares (OLS) a revenue function to estimate the returns to education, taking for that data quality of life survey 2003, conducted by DANE. With the information available to Bogotá, adding to earnings equations Mincerian model, the gender variable were estimated. The results of this study confirm the importance of these variables as determinants of wages, also allowing to conclude that the observed gender shows no significant impact from the statistical point of view. This shows that although, by this investigation demonstrates the Mincerian hypothesis in the target population, requires further determinants that complement other model, for better explanation of labor income.