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Long-Term Economic Consequences of Vietnam-Era Conscription: Schooling, Experience and Earnings

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Author Info
Joshua D. Angrist () (MIT Department of Economics)
Stacey H. Chen () (Department of Economics, Royal Holloway, University of London)

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Abstract

Military service reduces the civilian work experience of veterans but subsidizes their college attendance through the GI Bill. Estimates of veteran effects using the Vietnam-era draft-lottery show a post-service earnings impact close to zero in 2000, coupled with a marked increase in college attendance. Viewed through the lens of a Minser wage equation, these results are explained by a flattening of the experimence profile in middle age and a modest return to GI Bill schooling. Consistent with Roy-type selection into college for veterans, IV estimates of the returns to GI Bill-funded schooling are well below OLS estimates. These results are unchanged in more general models that allow for nonlinear returns to schooling and possible effects of military service on health.

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Paper provided by Department of Economics, Royal Holloway University of London in its series Royal Holloway, University of London: Discussion Papers in Economics with number 09/02.

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Date of creation: Mar 2009
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Handle: RePEc:hol:holodi:0902

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  1. Joshua D. Angrist & Stacey H. Chen & Brigham R. Frandsen, 2009. "Did Vietnam Veterans Get Sicker in the 1990s? The Complicated Effects of Military Service on Self-Reported Health," NBER Working Papers 14781, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  2. Chaudhuri, Saraswata & Rose, Elaina, 2009. "Estimating the Veteran Effect with Endogenous Schooling When Instruments Are Potentially Weak," IZA Discussion Papers 4203, Institute for the Study of Labor (IZA). [Downloadable!]
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