The Impact of Education on Consumer’s Welfare for Iranian Households: Pseudo-panel Approach

Abstract

Education is one of the most determinants of consumer welfare. There are, however, many differences in educational achievements among individuals. The aim of this paper is to study the generational impact of education on urban households’ consumer welfare in Iran. To do this, we construct a pseudo-panel data set of individual households from the urban areas for the period 1369-1390. In this way, the performance of cohorts over time is observed. The results show that greater access to education is associated with more consumer welfare.

Keywords

• age effect
• cohort effect
• education
• pseudo-panel approach
• time effect