The benefits of adult learning: Work-related training, social capital, and earnings
We propose a regression-adjusted matched difference-in-differences framework to estimate pecuniary and non-pecuniary returns to adult education. This approach combines kernel matching with entropy balancing to account for selection bias and sorting on gains. Using data from the German SOEP, we evaluate the effect of work-related training, which represents the largest portion of adult education in OECD countries, on individual social capital and earnings. As the related literature, we estimate positive monetary returns to work-related training. In addition, training participation increases participation in civic, political, and cultural activities while not crowding out social participation. Results are robust against a variety of potentially confounding explanations. These findings imply positive externalities from work-related training over and above the well-documented labor market effects. (https://doi.org/10.1016/j.econedurev.2019.05.010)
