Estimates of Economic Return to Schooling in the UK

Colm Harmon and Ian Walker ()

Economics Department Working Paper Series from Department of Economics, National University of Ireland - Maynooth

Abstract: This paper uses UK data to estimate the returns to schooling. We address the endogeneity of schooling by exploiting the experimental nature of two changes in the minimum school leaving age to instrument eduction. The corrected estimates of the return to education indicate the presence of a large and significant negative bias in the lest squares estimate of the rate of return.

Keywords: Selection bias; Human capital; Returns to education; Earnings (search for similar items in EconPapers)
JEL-codes: J10 J24 J31 (search for similar items in EconPapers)
Pages: 15 pages
Date: 1995
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Citations: View citations in EconPapers (249)

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Persistent link: https://EconPapers.repec.org/RePEc:may:mayecw:n540195

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