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Interpreting Instrumental Variables Estimates of the Returns to Schooling

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Author Info
Kling, Jeffrey R
Abstract

This article synthesizes economic insights from theoretical models of schooling choice based on individual benefits and econometric work interpreting instrumental variables estimates as weighted averages of individual-specific causal effects. Linkages are illustrated using college proximity to instrument for schooling. After characterizing groups differentially affected by the instrument according to family background, 1 directly compute weights underlying estimation of the overall return. In analyzing the level of schooling at which individuals change their behavior in response to the instrument, I demonstrate that this instrument has its greatest impact on the transition from high school to college. Specification robustness is also examined.

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Publisher Info
Article provided by American Statistical Association in its journal Journal of Business and Economic Statistics.

Volume (Year): 19 (2001)
Issue (Month): 3 (July)
Pages: 358-64
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Handle: RePEc:bes:jnlbes:v:19:y:2001:i:3:p:358-64

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  1. Andrea Mercatanti, 2008. "A likelihood-based analysis for relaxing the exclusion restriction in randomized experiments with imperfect compliance," Temi di discussione (Economic working papers) 683, Bank of Italy, Economic Research Department. [Downloadable!]
  2. Stacey H. Chen & Shakeeb Khan, 2003. "Nonparametric Estimation of Average Volatility Differentials in Selection Models with an Application to Returns to Schooling," Discussion Papers 03-02, University at Albany, SUNY, Department of Economics.
  3. Pedro Carneiro & James Heckman & Edward Vytlacil, 2009. "Evaluating marginal policy changes and the average effect of treatment for individuals at the margin," CeMMAP working papers CWP21/09, Centre for Microdata Methods and Practice, Institute for Fiscal Studies. [Downloadable!]
    Other versions:
  4. Meta Brown & John Karl Scholz & Ananth Seshadri, 2009. "A New Test of Borrowing Constraints for Education," NBER Working Papers 14879, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  5. Astrid Krenz, 2008. "Theorie und Empirie über den Wirkungszusammenhang zwischen sozialer Herkunft, kulturellem und sozialem Kapital, Bildung und Einkommen in der Bundesrepublik Deutschland," SOEPpapers 128, DIW Berlin, The German Socio-Economic Panel (SOEP). [Downloadable!]
  6. Pedro Carneiro & Sokbae 'Simon' Lee, 2009. "Estimating distributions of potential outcomes using local instrumental variables with an application to changes in college enrollment and wage inequality," CeMMAP working papers CWP01/09, Centre for Microdata Methods and Practice, Institute for Fiscal Studies. [Downloadable!]
  7. Pedro Carneiro & Sokbae 'Simon' Lee, 2005. "Ability, sorting and wage inequality," CeMMAP working papers CWP16/05, Centre for Microdata Methods and Practice, Institute for Fiscal Studies. [Downloadable!]
  8. Manuel Salas Velasco, 2004. "Rendimientos privados de las inversiones en educación superior a partir de ecuaciones de ingresos," Hacienda Pública Española, IEF, vol. 169(2), pages 87-117, June. [Downloadable!]
  9. Parey, Matthias & Waldinger, Fabian, 2008. "Studying Abroad and the Effect on International Labor Market Mobility: Evidence from the Introduction of ERASMUS," IZA Discussion Papers 3430, Institute for the Study of Labor (IZA). [Downloadable!]
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  10. Francis Vella & Lídia Farré & Roger Klein, 2008. "A Parametric Control Function Approach to Estimating the Returns to Schooling in the Absence of Exclusion Restrictions: An Application to the NLSY," Working Papers. Serie AD 2008-16, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
  11. Tracy L. Regan & Galen Burghardt & Ronald L. Oaxaca, 2006. "A Human Capital Model of the Effects of Abilities and Family Background on Optimal Schooling Levels," IZA Discussion Papers 1927, Institute for the Study of Labor (IZA). [Downloadable!]
  12. Sascha BECKER & Frank SIEBERN-THOMAS, 2001. "Returns to Education in Germany: A Variable Treatment Intensity Approach," Economics Working Papers ECO2001/09, European University Institute. [Downloadable!]
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