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

Author

Listed:
  • Orley Ashenfelter

    (Princeton University and NBER)

  • Colm Harmon

    (University College Dublin and CEPR)

  • Hessel Oosterbeek

    (Tinbergen Institute and University of Amsterdam)

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 of 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, 1999. "A Review of Estimates of the Schooling/Earnings Relationship, with Tests for Publication Bias," Working Papers 804, Princeton University, Department of Economics, Industrial Relations Section..
  • Handle: RePEc:pri:indrel:425
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    estimation method; rate of return; schooling investments;
    All these keywords.

    JEL classification:

    • N9 - Economic History - - Regional and Urban History

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