The return to schooling: Estimates from a sample of young Australian twins
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چکیده
This study uses a sample of young Australian twins to examine whether the findings reported in [Ashenfelter, Orley and Krueger, Alan, (1994). dEstimates of the Economic Return to Schooling from a New Sample of TwinsT, American Economic Review, Vol. 84, No. 5, pp.1157–73] and [Miller, P.W., Mulvey, C and Martin, N., (1994). dWhat Do Twins Studies Tell Us About the Economic Returns to Education?: A Comparison of Australian and US FindingsT, Western Australian Labour Market Research Centre Discussion Paper 94/4] are robust to choice of sample and dependent variable. The economic return to schooling in Australia is between 5 and 7 percent when account is taken of genetic and family effects using either fixed-effects models or the selection effects model of Ashenfelter and Krueger. Given the similarity of the findings in this and in related studies, it would appear that the models applied by [Ashenfelter, Orley and Krueger, Alan, (1994). dEstimates of the Economic Return to Schooling from a New Sample of TwinsT, American Economic Review, Vol. 84, No. 5, pp.1157–73] are robust. Moreover, viewing the OLS and IV estimators as lower and upper bounds in the manner of [Black, Dan A., Berger, Mark C., and Scott, Frank C., (2000). dBounding Parameter Estimates with Nonclassical Measurement ErrorT, Journal of the American Statistical Association, Vol. 95, No.451, pp.739–748], it is shown that the bounds on the return to schooling in Australia are much tighter than in [Ashenfelter, Orley and Krueger, Alan, (1994). dEstimates of the Economic Return to Schooling from a New Sample of TwinsT, American
منابع مشابه
Further estimates of the economic return to schooling from a new sample of twins
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تاریخ انتشار 2006