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Estimating the Returns to Schooling: Some Econometric Problems

Zvi Griliches
Econometrica
Vol. 45, No. 1 (Jan., 1977), pp. 1-22
Published by: The Econometric Society
DOI: 10.2307/1913285
Stable URL: http://www.jstor.org/stable/1913285
Page Count: 22
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Estimating the Returns to Schooling: Some Econometric Problems
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Abstract

This paper surveys various econometric issues that arise in estimating a relation between the logarithm of earnings, schooling, and other variables and focuses on the problem of "ability" as a left-out variable and the various solutions to it. It points out that in optimizing models the "ability bias" need not be positive and shows, using recent analyses of NLS data, that when schooling is treated symmetrically, allowing it too to be subject to errors of measurement and correlated to the disturbance in the earnings function, the usual conclusion of a significantly positive "ability bias" in the estimated schooling coefficients is not only not supported but possibly even reversed.

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