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Ability Bias, Skewness and the College Wage Premium

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  • Naylor, Robin A.

    (Department of Economics, University of Warwick)

  • Smith, Jeremy

    (Department of Economics, University of Warwick)

Abstract

Changes in educational participation rates across cohorts are likely to imply changes in the ability-education relationship and thereby to impact on estimated returns to education. We show that skewness in the underlying ability distribution is a key determinant of the impact of graduate expansion on the college wage premium. Calibrating the model against the increased proportion of university students in Britain, we find that changes in the average ability gap between university students and others are likely to have mitigated demand-side forces.

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Bibliographic Info

Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 907.

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Date of creation: 2009
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Handle: RePEc:wrk:warwec:907

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Keywords: Ability Bias ; College Wage Premium ; Graduate Returns ; Cohort Effects;

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  1. John Cawley & James Heckman & Edward Vytlacil, 1998. "Understanding the Role of Cognitive Ability in Accounting for the Recent Rise in the Economic Return to Education," NBER Working Papers 6388, National Bureau of Economic Research, Inc.
  2. Massimiliano BRATTI & Robin NAYLOR & Jeremy SMITH, 2008. "Heterogeneities in the returns to degrees: evidence from the British cohort study 1970," Departmental Working Papers 2008-40, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  3. Blackburn, McKinley L & Neumark, David, 1993. "Omitted-Ability Bias and the Increase in the Return to Schooling," Journal of Labor Economics, University of Chicago Press, vol. 11(3), pages 521-44, July.
  4. Arulampalam, W. & Robin A. Naylor & Jeremy P. Smith, 2002. "University of Warwick," Royal Economic Society Annual Conference 2002 9, Royal Economic Society.
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