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| Author: | Arias, O. Hallock, K. F. Sosa-Escudero, W. |
| Title: | Individual heterogeneity in the returns to schooling: instrumental variables quantile regression using twins data |
| Journal: | Empirical Economics
2001 : VOL. 26:1, p. 7-40 |
| Index terms: | REGRESSION ANALYSIS FAMILIES EDUCATION PAY SCHOOLS EARNINGS |
| Language: | eng |
| Abstract: | The authors use an instrumental variables estimator for quantile regression on a sample of twins to estimate an entire family of returns to education at different quantiles of the conditional distribution of wages while addressing simultaneity and measurement error biases. The authors test whether there is individual heterogeneity in returns to education and find that: more able individuals obtain more schooling perhaps due to lower marginal costs and/or higher marginal benefits of schooling and that higher ability individuals (those further to the right in the conditional distribution of wages) have higher returns to schooling consistent with a non-trivial interaction between schooling and unobserved abilities in the generation of earnings. |
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