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Returns to Education and Individual Heterogeneity

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Author Info
Pohlmeier, Winfried
Pfeiffer, Friedhelm
Maier, Michael

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Abstract

In this paper, human capital investments are evaluated by assuming heterogeneous returns to education. We use the potential outcome approach to measure the causal effect of human capital investments on earnings as a continuous treatment effect. Empirical evidence is based on a sample of West German full-time employed males from the ?BIBB/IAB-Strukturerhebung 1998/99.? Our estimate of the average treatment effect of an additional year of schooling (ATE) amounts to 8.7%, which is quite similar to conventional instrumental variable estimates.

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Publisher Info
Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 04-34.

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Date of creation: 2004
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Handle: RePEc:zbw:zewdip:1860

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Related research
Keywords: potential outcome approach; marginal benefits and costs of schooling; unobserved heterogeneity; unemployment; average treatment effect;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Pedro Carneiro & James J. Heckman, 2002. "The Evidence on Credit Constraints in Post--secondary Schooling," Economic Journal, Royal Economic Society, vol. 112(482), pages 705-734, October. [Downloadable!] (restricted)
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  2. Olivier Deschenes, 2002. "Estimating the Effects of Family Background on the Return to Schooling," University of California at Santa Barbara, Economics Working Paper Series 10-02, Department of Economics, UC Santa Barbara. [Downloadable!]
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  3. Wooldridge, Jeffrey M., 1997. "On two stage least squares estimation of the average treatment effect in a random coefficient model," Economics Letters, Elsevier, vol. 56(2), pages 129-133, October. [Downloadable!] (restricted)
  4. Heckman, James J. & Lochner, Lance J. & Todd, Petra E., 2003. "Fifty Years of Mincer Earnings Regressions," IZA Discussion Papers 775, Institute for the Study of Labor (IZA). [Downloadable!]
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  5. Stock, James H & Wright, Jonathan H & Yogo, Motohiro, 2002. "A Survey of Weak Instruments and Weak Identification in Generalized Method of Moments," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(4), pages 518-29, October.
  6. Card, David, 1999. "The causal effect of education on earnings," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 30, pages 1801-1863 Elsevier. [Downloadable!] (restricted)
  7. Card, David, 2001. "Estimating the Return to Schooling: Progress on Some Persistent Econometric Problems," Econometrica, Econometric Society, vol. 69(5), pages 1127-60, September.
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  8. Michael Maier & Friedhelm Pfeiffer & Winfried Pohlmeier, 2003. "Overeducation and Individual Heterogeneity," Working Papers of the Research Group Heterogenous Labor 03-01, Research Group Heterogeneous Labor, University of Konstanz/ZEW Mannheim. [Downloadable!]
  9. Wolfgang Franz & Joachim Inkmann & Winfried Pohlmeier & Volker Zimmermann, 2000. "Young and Out in Germany (On Youths? Chances of Labor Market Entrance in Germany)," NBER Chapters, in: Youth Employment and Joblessness in Advanced Countries, pages 381-426 National Bureau of Economic Research, Inc. [Downloadable!]
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  1. Budria, Santiago, 2006. "Schooling and the distribution of wages in the european private and public sectors," MPRA Paper 90, University Library of Munich, Germany. [Downloadable!]
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