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Research ArticleArticles

Estimating the Return to Endogenous Schooling Decisions via Conditional Second Moments

Roger Klein and Francis Vella
Journal of Human Resources, October 2009, 44 (4) 1047-1065; DOI: https://doi.org/10.3368/jhr.44.4.1047
Roger Klein
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Francis Vella
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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.

  • Received September 2007.
  • Accepted August 2008.

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Journal of Human Resources
Vol. 44, Issue 4
2 Oct 2009
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Estimating the Return to Endogenous Schooling Decisions via Conditional Second Moments
Roger Klein, Francis Vella
Journal of Human Resources Oct 2009, 44 (4) 1047-1065; DOI: 10.3368/jhr.44.4.1047

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Estimating the Return to Endogenous Schooling Decisions via Conditional Second Moments
Roger Klein, Francis Vella
Journal of Human Resources Oct 2009, 44 (4) 1047-1065; DOI: 10.3368/jhr.44.4.1047
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