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Estimates of Economic Return to Schooling in the UK Author info | Abstract | Publisher info | Download info | Related research | Statistics Colm Harmon;
Ian Walker (Keele University and Institute for Fiscal Studies)
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This paper uses UK data to estimate the returns to schooling. We address the endogeneity of schooling by exploiting the experimental nature of two changes in the minimum school leaving age to instrument eduction. The corrected estimates of the return to education indicate the presence of a large and significant negative bias in the lest squares estimate of the rate of return.
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Paper provided by Department of Economics, Finance and Accounting, National University of Ireland - Maynooth in its series Economics, Finance and Accounting Department Working Paper Series with number
n540195.
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Length: 15 pages
Date of creation: 1995Date of revision:
Handle: RePEc:may:mayecw:n540195Contact details of provider: Postal: Maynooth, Co. Kildare Phone: 353-1-7083728 Fax: 353-1-7083934 Web page: http://www.may.ie/academic/economics/ More information through EDIRC
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Keywords: Selection bias Human capital Returns to education Earnings Other versions of this item:
Find related papers by JEL classification: J10 - Labor and Demographic Economics - - Demographic Economics - - - General J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
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