Estimating returns to education: three natural experiment techniques compared
Description
Australia: instrumenting schooling using month of birth, instrumenting schooling using changes in compulsory schooling laws, and comparing outcomes for twins. With annual pre-tax income as our measure of income, we find that the naïve (OLS) returns to an additional year of schooling is 13%. The month of birth IV approach gives an 8% rate of return to schooling, while using changes in compulsory schooling laws as an IV produces a 12% rate of return. Finally, we review estimates from twins...[Show more]
Collections | ANU Research Publications |
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Date published: | 2005 |
Type: | Working/Technical Paper |
URI: | http://hdl.handle.net/1885/43205 |
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File | Description | Size | Format | Image |
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DP493.pdf | 242.36 kB | Adobe PDF |
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