Further estimates of the economic return to schooling from a new sample of twins
نویسنده
چکیده
In a recent, and widely cited, paper, Ashenfelter & Krueger (1994) use a new sample of identical twins to investigate the contribution of genetic ability to the observed cross-sectional return to schooling. This paper re-examines Ashenfelter & Krueger’s estimates using three additional years of the same twins survey. I find that the return to schooling among identical twins is about 10% per year of schooling completed. Most importantly, unlike the results reported in Ashenfelter and Krueger, I find that the within-twin regression estimate of the effect of schooling on the log wage is smaller than the cross-sectional estimate, implying a small upward bias in the cross-sectional estimate. Ashenfelter & Krueger’s measurement error corrected estimates are insignificantly different from those presented here, however. Finally, there is evidence of an important individual-specific component to the measurement error in schooling reports. [JEL: J24, I21] 1999 Elsevier Science Ltd. All rights reserved.
منابع مشابه
The return to schooling: Estimates from a sample of young Australian twins
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?:...
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