In this paper we focus on education as a private decision to invest in ‘human capital’ and the estimation of the rate of return to that private investment. While the literature is replete with studies that estimate the ...
Until the late 1960s, state schooling in England and Wales was determined by an ability test of pupils at age 11 which had an effect on both the quantity and quality of education. By estimating the relationship between ...
Education has an important effect on wages but it not clear whether this is because education raises productivity or because education is simply a signal of ability. We implement a number of existing tests for discriminating ...
Education and Earnings in Europe is based on a two year pan-European research programme and presents an in-depth analysis of the returns to education in Europe. The book begins with a critical review of the literature which ...
This Paper examines cross-country variations in the return to schooling for men and women and considers some of the stylised facts that have emerged from the extensive international literature on private returns to schooling. ...
This paper exploits an unusual policy reform that had the effect of reducing the direct cost of schooling in Ireland in the late 1960’s. This gave rise to an increased level of schooling but with effects that vary substantially ...
We explore the possibility that different instruments may affect different margins of the schooling distribution, and consistent with recent evidence we find a large, significant downward bias in the least squares estimate ...
Recent developments in the schooling returns literature have focused on exploiting alternative instruments. A number of instruments are available in an Irish dataset, including parental background variables (social class ...
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 ...