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The Economic Return to Schooling in Ireland

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Author Info
Callan, T.
Harmon, C.P.

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Abstract

OLS estimates of the rate of return to education are subject to a number of potential biases. Recent developments in the literature have focused particularly on exploiting alternative instruments, arising naturally in the data, to counteract these problems. A number of such instrumens are available in an Irish data set, including parental background variables (social class and educational attainment), and varaibles measuring changes in the schooling system (the introduction of free secondary schooling in the mid 1960s, accompanied by a rapid rise in educational participation rates, and the raising of the school-leaving age in 1972). The results suggest that OLS estimates of rates of return are not downward biased ( as would be suggested by recent arguments), and offer some support to the idea that discount rate bias may be of importance.

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Publisher Info
Paper provided by College Dublin, Department of Political Economy- in its series Papers with number 97/23.

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Length: 14 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:fth:dublec:97/23

Contact details of provider:
Postal: Ireland; University College Dublin, Department of Political Economy, Centre for Economic Research, Belfield, Dublin 4
Phone: +353-1-7067777
Fax: +353-1-283 0068
Web page: http://www.ucd.ie/economics/
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Related research
Keywords: ECONOMETRICS;

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Find related papers by JEL classification:
C5 - Mathematical and Quantitative Methods - - Econometric Modeling

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  1. Kevin Denny & Colm Harmon, 2000. "The impacts of education and training on the labour market experiences of young adults," IFS Working Papers W00/08, Institute for Fiscal Studies. [Downloadable!]
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  2. Brenda Gannon & Brian Nolan, 2004. "Inter-Industry Wage Differentials in Ireland," The Economic and Social Review, Economic and Social Studies, vol. 35(2), pages 157–182. [Downloadable!]
  3. Callan, Tim & Keane, Claire, 2009. "Non-cash Benefits and the Distribution of Economic Welfare," The Economic and Social Review, Economic and Social Studies, vol. 40(1), pages 49-71. [Downloadable!]
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  4. Denny, Kevin & Harmon, Colm, 2000. "Education Policy Reform and the Return to Schooling from Instrumental Variables," CEPR Discussion Papers 2518, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  5. Kevin Denny, 2000. "New methods for comparing literacy across populations: insights from the measurement of poverty," IFS Working Papers W00/07, Institute for Fiscal Studies. [Downloadable!]
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  6. Casey, Barra, 2004. "An Economy-Wide Perspective on Earnings Data in Ireland," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI), vol. 2004(1-Spring), pages 1-22. [Downloadable!]
  7. Jean-Louis Arcand & Béatrice d'Hombres & Paul Gyselinck, 2005. "Instrument Choice and the Returns to Education: New Evidence from Vietnam," Labor and Demography 0510011, EconWPA. [Downloadable!]
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  8. John Fitz Gerald, 1999. "Understanding Ireland's Economic Success," Papers WP111, Economic and Social Research Institute (ESRI). [Downloadable!]
  9. Cathal O'Donoghue, 1999. "Estimating the Rate of Return to Education using Microsimulation," The Economic and Social Review, Economic and Social Studies, vol. 30(3), pages 249-265. [Downloadable!]
  10. John Fitz Gerald, 1998. "An Irish Perspective on the Structural Funds," Papers WP094, Economic and Social Research Institute (ESRI). [Downloadable!]
  11. Barra Casey, 2004. "An Economy-Wide Perspective on Earnings Data in Ireland: Methodological Issues and Analysis," Papers WP156, Economic and Social Research Institute (ESRI). [Downloadable!]
  12. David Card, 2000. "Estimating the Return to Schooling: Progress on Some Persistent Econometric Problems," NBER Working Papers 7769, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  13. Peter Galasi, 2003. "Estimating wage equations for Hungarian higher-education graduates," Budapest Working Papers on the Labour Market 0304, Institute of Economics, Hungarian Academy of Sciences. [Downloadable!]
  14. John Fitz Gerald, 2000. "Ireland's Failure-And Belated Convergence," Papers WP133, Economic and Social Research Institute (ESRI). [Downloadable!]
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