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A Review of Estimates of the Schooling/Earnings Relationship, with Tests for Publication Bias

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Listed:
  • Orley Ashenfelter
  • Colm Harmon
  • Hessel Oosterbeek

Abstract

In this paper we provide an analytical review of previous estimates of the rate of return on schooling investments and measure how these estimates vary by country, over time, and by estimation method. We find evidence reporting (or file drawer') bias in the estimates and, after due account is taken of this bias, we find that differences due to estimation method are much smaller than is sometimes reported, although some are statistically significant. We also find that estimated returns are higher in the U.S. and they have increased in the last two decades.

Suggested Citation

  • Orley Ashenfelter & Colm Harmon & Hessel Oosterbeek, 2000. "A Review of Estimates of the Schooling/Earnings Relationship, with Tests for Publication Bias," NBER Working Papers 7457, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:7457
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    References listed on IDEAS

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    JEL classification:

    • I2 - Health, Education, and Welfare - - Education

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