Getting Skills Right: Chile by OECD

Author:OECD
Language: eng
Format: epub
Tags: Education/Employment
ISBN: 9789264293151
Publisher: OECD Publishing
Published: 2018-04-03T16:00:00+00:00

Figure 1.15. Contribution of education, literacy and numeracy to the variation of hourly wages

Contribution of each factor to the percentage of the explained variance (R-squared) in hourly wages

Note: Results obtained using a regression-based decomposition following the methods in Fields (2003). Each bar summarises the results from one regression and its height represents the R-squared of that regression. The sub-components of each bar show the contribution of each factor (or set of regressors) to the total R-squared. The Fields decomposition is explained in more detail in Box 5.4 of the OECD Employment Outlook 2014 (OECD, 2014b). The dependent variable in the regression model is the log of hourly wages, including bonuses in PPP-adjusted USD (2012). The regressors for each factor are: years of working experience and its squared term for "Experience"; proficiency in literacy and numeracy for "Proficiency"; years of education for "Education"; and gender, marital status, migration status and language spoken at home for "Individual characteristics".

Source: Survey of Adult Skills (PIAAC) (2012, 2015), Table A5.5.

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