| Schooling | Log-Earnings | Earnings | |
|---|---|---|---|
| Panel A: First Stage, PS | |||
| Above PS threshold | –5.16** (0.39) | –5.17** (0.39) | –5.15** (0.38) |
| Above MS threshold | –1.21** (0.34) | –1.21** (0.33) | –1.21** (0.33) |
| F-test PS instrument | 173 | 178 | 179 |
| F-test MS instrument | 13 | 13 | 13 |
| Panel B: First Stage, MS | |||
| Above PS threshold | –0.82** (0.33) | –0.80** (0.33) | –0.82** (0.32) |
| Above MS threshold | –8.37** (0.35) | –8.44** (0.34) | –8.39** (0.34) |
| F-test PS instrument | 6 | 6 | 6 |
| F-test MS instrument | 586 | 624 | 615 |
| Panel C: Reduced Form | |||
| Above PS threshold | 0.032 (0.050) | –0.015* (0.009) | –0.019* (0.010) |
| Above MS threshold | –0.019 (0.039) | –0.001 (0.006) | –0.003 (0.007) |
| Panel D: 2SLS | |||
| Average class size grades 1–6 (PS) | –0.0075 (0.0092) | 0.0026 (0.0017) | 0.0031 (0.0021) |
| Average class size, Grades 7–9 (MS) | 0.0028 (0.0045) | –0.0002 (0.0008) | –0.0001 (0.0010) |
| N schools | 596 | 596 | 600 |
| N students | 102,288 | 103,458 | 108,526 |
↵Notes: This table reports IV estimates for the specification in Table 4, but where the sample is further restricted to graduating cohorts from schools where all nine years of compulsory school enrollment are observed. Standard errors clustered at the school level are reported in parentheses. *p < 0.10, **p < 0.05.