Education Policy Reform and the Return to Schooling from Instrumental Variables

Kevin Denny and Colm Harmon

Working Papers from College Dublin, Department of Political Economy-

Abstract: 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 across family background. This interaction of educational reform and family background generates a set of instrumental variables that are used to estimate the return to schooling allowing for the endogeneity of schooling Using a standard Mincer type model we find a large and well-determined rate of return of around 12% which are substantially higher than the OLS estimates of around 7%.

Keywords: SCHOOLS; EDUCATION; ECONOMETRICS (search for similar items in EconPapers)
JEL-codes: C00 I20 I28 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2000
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Citations: View citations in EconPapers (29)

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Working Paper: Education Policy Reform and the Return to Schooling from Instrumental Variables (2000)
Working Paper: Education Policy Reform and the Return to Schooling from Instrumental Variabes (2000)
Working Paper: Education policy reform and the return to schooling from instrumental variables (2000)
Working Paper: Education policy reform and the return to schooling from instrumental variables (2000)
Working Paper: Education policy reform and the return to schooling from instrumental variables (2000)
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