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2001 Lawrence R. Klein Lecture Estimating Distributions of Treatment Effects with an Application to the Returns to Schooling and Measurement of the Effects of Uncertainty on College Choice

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  • Pedro Carneiro
  • Karsten T. Hansen
  • James J. Heckman

Abstract

This article uses factor models to identify and estimate the "distributions" of counterfactuals. We extend "LISREL" frameworks to a dynamic treatment effect setting, extending matching to account for unobserved conditioning variables. Using these models, we can identify all pairwise and joint treatment effects. We apply these methods to a model of schooling and determine the intrinsic uncertainty facing agents at the time they make their decisions about enrollment in school. We go beyond the "Veil of Ignorance" in evaluating educational policies and determine who benefits and who loses from commonly proposed educational reforms. Copyright 2003 By The Economics Department Of The University Of Pennsylvania And Osaka University Institute Of Social And Economic Research Association.

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Bibliographic Info

Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 44 (2003)
Issue (Month): 2 (05)
Pages: 361-422

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Handle: RePEc:ier:iecrev:v:44:y:2003:i:2:p:361-422

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Cited by:
  1. Laurent Gobillon & Thierry Magnac, 2013. "Regional Policy Evaluation: Interactive Fixed Effects and Synthetic Controls," PSE Working Papers halshs-00849071, HAL.
  2. d'Haultfoeuille, Xavier & Maurel, Arnaud & Zhang, Yichong, 2014. "Extremal Quantile Regressions for Selection Models and the Black-White Wage Gap," IZA Discussion Papers 8256, Institute for the Study of Labor (IZA).
  3. Coelli, Michael B. & Green, David A. & Warburton, William P., 2007. "Breaking the cycle? The effect of education on welfare receipt among children of welfare recipients," Journal of Public Economics, Elsevier, vol. 91(7-8), pages 1369-1398, August.
  4. Kraft, Holger & Munk, Claus & Seifried, Frank Thomas & Steffensen, Mogens, 2014. "Consumption and wage humps in a life-cycle model with education," SAFE Working Paper Series 53, Research Center SAFE - Sustainable Architecture for Finance in Europe, Goethe University Frankfurt.
  5. Manudeep Bhuller & Magne Mogstad & Kjell G. Salvanes, 2014. "Life Cycle Earnings, Education Premiums and Internal Rates of Return," NBER Working Papers 20250, National Bureau of Economic Research, Inc.
  6. Singh, Aarti, 2008. "Human capital risk in life-cycle economies," MPRA Paper 10292, University Library of Munich, Germany.
  7. repec:hal:wpaper:halshs-00849071 is not listed on IDEAS
  8. Tavneet Suri, 2006. "Selection and Comparative Advantage in Technology Adoption," Working Papers 944, Economic Growth Center, Yale University.
  9. Tavneet Suri, 2009. "Selection and Comparative Advantage in Technology Adoption," NBER Working Papers 15346, National Bureau of Economic Research, Inc.

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