Using heteroscedasticity to estimate the returns to education

DSpace/Manakin Repository

Show simple item record Hogan, Vincent (Vincent Peter) Rigobon, Roberto 2009-04-27T11:42:35Z 2009-04-27T11:42:35Z Institute for the Study of Social Change, 2002 en 2002-06-14
dc.description.abstract We apply a new estimator to the measurement of the economic returns to education. We control for endogenous education, unobserved ability and measurement error using only the natural heteroscedasticty of wages and education attainment. Our prefered estimate, 6.07%, is closer to the OLS estimate but smaller (and more precise) than the estimates typically reported by studies that use IV. Our results indicate that the biases generated by unobserved ability and measurement error tend to cancel each other out as suggested by Griliches (1977). We also present Monte Carlo evidence to show that the finite sample bias our estimator is small. en
dc.format.extent 430165 bytes
dc.format.mimetype application/pdf
dc.language.iso en en
dc.publisher University College Dublin. Institute for the Study of Social Change (Geary Institute) en
dc.relation.ispartofseries ISSC Discussion Paper Series en
dc.relation.ispartofseries 2002/07 en
dc.relation.uri Using heteroscedasticity to estimate the returns to education (January 2003) en
dc.relation.uri en
dc.subject Identification en
dc.subject Returns to Education en
dc.subject.classification C30 en
dc.subject.classification I20 en
dc.subject.classification J31 en
dc.subject.lcsh Education--Economic aspects en
dc.subject.lcsh Heteroscedasticity en
dc.subject.lcsh Wages--Effect of education on en
dc.title Using heteroscedasticity to estimate the returns to education en
dc.type Working Paper en
dc.internal.authorurl Vincent Hogan (web page) en
dc.internal.authorurl en
dc.internal.authorid UCD0011 en
dc.internal.availability Full text available en
dc.internal.webversions en
dc.status Not peer reviewed en
dc.neeo.contributor Hogan|Vincent (Vincent Peter)|aut|UCD0011
dc.neeo.contributor Rigobon|Roberto|aut|

This item appears in the following Collection(s)

Show simple item record

This item is available under the Attribution-NonCommercial-NoDerivs 3.0 Ireland. No item may be reproduced for commercial purposes. For other possible restrictions on use please refer to the publisher's URL where this is made available, or to notes contained in the item itself. Other terms may apply.

If you are a publisher or author and have copyright concerns for any item, please email and the item will be withdrawn immediately. The author or person responsible for depositing the article will be contacted within one business day.

Search Research Repository

Advanced Search