Business cycles, opportunity costs and decision to study: some hypotheses and an illustrative comparative evidence
DOI:
https://doi.org/10.22325/fes/res.2018.7Keywords:
Opportunity costs, schooling, Spain, Western EuropeAbstract
This article explores the relevance of changes in the opportunity cost of studying in explaining the schooling patterns of teenagers and youth in the last decades. On one hand, the article puts forward several hypotheses on the factors that underlie the reality and perception of that cost. On the other, it presents, and comments based upon some of these hypotheses, a comparative evidence of the schooling patterns for both age groups in Western Europe since the nineties, placing the Spanish case in this context. That evidence suggests the need to consider institutional (school) factors in addition to the merely economic ones to understand the rela‑ tionship between the opportunity cost of studying and schooling.
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