Smoking, discount rates, and returns to education
AbstractIndividual time preference determines schooling enrolment. Moreover, smoking behavior in early ages has been shown to be highly related to time preference rates. Accordingly, we use smoking at age 16 as an instrument for schooling in order to cope with ability bias in a returns to education regression. Doing this for Austrian cross-sectional data, we find no evidence of ability bias.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics of Education Review.
Volume (Year): 22 (2003)
Issue (Month): 6 (December)
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Web page: http://www.elsevier.com/locate/econedurev
Other versions of this item:
- Fersterer, Josef & Winter-Ebmer, Rudolf, 2000. "Smoking, Discount Rates, and Returns to Education," IZA Discussion Papers 126, Institute for the Study of Labor (IZA).
- Josef Fersterer & Rudolf Winter-Ebmer, 2000. "Smoking, discount rates, and returns to education," Economics working papers 2000-02, Department of Economics, Johannes Kepler University Linz, Austria.
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
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