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in the keywords:  Higher education, human capital, earnings, returns to education
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EN
The number of students of higher education rose significantly in Hungary in the nineties. Many people forecast the decrease of the income benefit of the higher qualification and the decline of the rates of return for investment in higher education. We analyse the time course of the difference between earnings of the graduates and the secondary school graduates between 1990 and 2008, we show that the value of the diploma decreased only slightly despite of the expansion of higher education.
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