Estimates of Economic Return to Schooling in the UK
AbstractThis 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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Bibliographic InfoPaper 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.
Length: 15 pages
Date of creation: 1995
Date of revision:
Selection bias; Human capital; Returns to education; Earnings;
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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