Smoking, discount rates, and returns to education

Josef Fersterer and Rudolf Winter-Ebmer

No 2000-02, Economics working papers from Department of Economics, Johannes Kepler University Linz, Austria

Abstract: Individual time preference determines schooling enrolment. Moreover, smoking behavior in early ages has been shown to be highly related to time preference rates. Accordingly, we use smoking at age 16 as an instrument for schooling in order to cope with ability bias in a returns to education regression. Doing this for Austrian cross-sectional data, we find no evidence of ability bias.

Keywords: returns to education; instrumental variables; ability bias; discount rates (search for similar items in EconPapers)
JEL-codes: I22 J31 (search for similar items in EconPapers)
Date: 2000-01
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Citations: View citations in EconPapers (8)

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Related works:
Journal Article: Smoking, discount rates, and returns to education (2003)
Working Paper: Smoking, Discount Rates, and Returns to Education (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:jku:econwp:2000_02

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