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The Return to Education in the Mid-Twentieth Century: Evidence from Twins

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  • Feigenbaum, James J.
  • Tan, Hui Ren

Abstract

What was the return to education in the United States at mid-century? In 1940, the correlation between years of schooling and earnings was relatively low. In this article, we estimate the causal return to schooling in 1940, constructing a large linked sample of twin brothers to account for differences in unobserved ability and family background. We find that each additional year of schooling increased labor earnings by approximately 4 percent, about half the return found for more recent cohorts in twins studies. These returns were evident both within and across occupations and were higher for sons from lower socio-economic status families.

Suggested Citation

  • Feigenbaum, James J. & Tan, Hui Ren, 2020. "The Return to Education in the Mid-Twentieth Century: Evidence from Twins," The Journal of Economic History, Cambridge University Press, vol. 80(4), pages 1101-1142, December.
    • Handle: RePEc:cup:jechis:v:80:y:2020:i:4:p:1101-1142_6
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