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The marginal and average returns to schooling
Author(s)
Date Issued
1996-09
Date Available
2010-01-18T17:00:25Z
Abstract
The existing literature now features many examples where log wages are linear in years of schooling and which effectively attempt to correct for least squares bias using instruments based essentially on a single variable. Two recent developments, taken together, cast some doubt on the downward bias in least squares estimates of the return to schooling that have been an important feature of the recent literature. The first is the realization that instrumental variable (IV) only estimate the effects of some treatment if the effect is the same for everyone. The second is that IV may only estimate the effect of the treatment on the individuals whose choices are affected by the instrument in question [extract]
External Notes
A hard copy is available in UCD Library at GEN 330.08 IR/UNI
Type of Material
Working Paper
Publisher
University College Dublin. School of Economics
Series
UCD Centre for Economic Research Working Paper Series
WP96/20
Classification
J31
I21
J24
Subject – LCSH
Wages--Effect of education on
Education--Economic aspects
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
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