Estimating the Return to Endogenous Schooling Decisions via Conditional Second Moments

Roger Klein () and Francis Vella

Journal of Human Resources, 2009, vol. 44, issue 4

Abstract: This paper employs conditional second moments to identify the impact of education in wage regressions where education is treated as endogenous. This approach avoids the use of instrumental variables in a setting where instruments are frequently not available. We employ this methodology to estimate the returns to schooling for a sample of Australian workers. We find that accounting for the endogeneity of education in this manner increases the estimated return to education from 6 percent to 10 percent.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:jhriss:v:44:y:2009:i4:p1047-1065

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