Life cycle earnings, education premiums, and internal rates of return

Manudeep Bhuller, Magne Mogstad, Kjell G. Salvanes 22 September 2014

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Many empirical studies use cross-section data to estimate Mincer regressions of log earnings on years of schooling and (potential) experience (see the review articles by Card 1999, Harmon et al. 2003, Psacharopoulos and Patrinos 2004, and Heckman et al. 2006). The problem of selection bias can be addressed by controlling for correlated determinants of earnings or with an instrumental variable for schooling. However, it is not clear how the coefficient on schooling should be interpreted.

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Topics:  Education Labour markets

Tags:  education, Labour Markets, Mincer regressions, pensions, earnings, schooling, Norway, taxes, education premium, returns to education

The expansion and convergence of compulsory schooling: Lessons for developing countries

Fabrice Murtin, Martina Viarengo 18 January 2013

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One goal of the UN’s Millennium Declaration is “achieving universal primary education” by 2015 (UN 2012). Yet, according to recent statistics, 61 million children of primary school age are not enrolled in school (UNESCO 2012), and 12% do not complete primary education (World Bank 2012). Drop-off rates significantly increase in developing countries during the transition from primary to secondary school.

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Topics:  Development Labour markets

Tags:  education, schooling, school leaving age, learning outcomes