Can sustained development of education lead to employment - an empirical study based on TVP-VAR model

¹ Dept. of Mathematics, Southwest Jiaotong Univ.,999 Xi’an Rd, Chengdu, Sichuan, China 611756 ;
² Dept. of Business and Public Management, Wen-zhou Kean Univ., 88 Daxue Rd, Wenzhou, Zhejiang China 325060 ;
³ Dept. of Electrical Engineering and Automation, Xi’an Jiaotong Univ., Xi’an, Shanxi China 710049

^* Corresponding author: xyl2024001@163.com
^a Corresponding authors: luoyue@kean.edu
^b zaa3313053494@163.com
^c 1005439062@qq.com

Abstract

This paper explores the time-varying nature of the continuous development of education and employment from 1993-2021, completes the measurement of education integrated scale and education integrated talent indicators using the entropy power method, constructs a TVP-VAR model, and completes the investigation of the dynamic relationship between changes in education development and changes in employment growth using equally spaced impulse responses and time-point impulse responses. It is found that: there are different degrees of positive and negative impact fluctuations of the change in increase in education expenditure, the change in increase in education integrated scale and the change in increase in the number of education integrated talents on the change in employment growth, and overall the change in increase in education expenditure, the change in increase in education integrated scale and the change in the number of education integrated talents positively affect the change in employment growth under medium-term shocks. Based on the results of the study, this paper puts forward relevant suggestions for further promoting the positive impact of continuous development of education on employment growth.