Estimates of the Economic Returns to Schooling from a New Sample of Twins
This paper uses a new survey to contrast the wages of genetically identical twins with different schooling levels. Multiple measurements of schooling levels were also collected to assess the effect of reporting error on the estimated economic returns to schooling. The data indicate that omitted ability variables do not bias the estimated return to schooling upward but that measurement error does bias it downward. Adjustment for measurement error indicates that an additional year of schooling increases wages by 12 to 16 percent, a higher estimate of the economic returns to schooling than has been previously found. Copyright 1994 by American Economic Association.
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Volume (Year): 84 (1994)
Issue (Month): 5 (December)
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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.:
- Chamberlain, Gary, 1982. "Multivariate regression models for panel data," Journal of Econometrics, Elsevier, vol. 18(1), pages 5-46, January.
- Joshua Angrist & Alan Krueger, 1990.
"Does Compulsory School Attendance Affect Schooling and Earnings?,"
653, Princeton University, Department of Economics, Industrial Relations Section..
- Angrist, Joshua D & Krueger, Alan B, 1991. "Does Compulsory School Attendance Affect Schooling and Earnings?," The Quarterly Journal of Economics, MIT Press, vol. 106(4), pages 979-1014, November.
- Joshua D. Angrist & Alan B. Krueger, 1990. "Does Compulsory School Attendance Affect Schooling and Earnings?," NBER Working Papers 3572, National Bureau of Economic Research, Inc.
- Joshua D. Angrist & Alan B. Krueger, 1992.
"Estimating the Payoff to Schooling Using the Vietnam-Era Draft Lottery,"
NBER Working Papers
4067, National Bureau of Economic Research, Inc.
- Joshua Angrist & Alan Krueger, 1991. "Estimating the Payoff to Schooling Using the Vietnam-era Draft Lottery," Working Papers 670, Princeton University, Department of Economics, Industrial Relations Section..
- Griliches, Zvi, 1977. "Estimating the Returns to Schooling: Some Econometric Problems," Econometrica, Econometric Society, vol. 45(1), pages 1-22, January.
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