Estimating the Returns to Education Using a Sample of Twins - The case of Japan -

Makiko Nakamuro and Tomohiko Inui

Discussion papers from Research Institute of Economy, Trade and Industry (RIETI)

Abstract: The objective of this paper is to measure the causal effect of education on earnings using a sample of twins in Japan, with information collected through a web-based survey. The empirical results show that although the conventional OLS estimate is 10.0%, we obtain 9.3% as the estimated rate of return to education after the omitted ability bias and measurement errors in self-reported schooling were corrected. Our findings suggest that the conventional OLS estimate is not largely contaminated by potential biases.

Pages: 27 pages
Date: 2012-12
New Economics Papers: this item is included in nep-edu, nep-lab and nep-lma
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eti:dpaper:12076

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