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Title: How Convincing Is The Evidence Linking Education and Income?
Authors: Ashenfelter, Orley
Keywords: schooling investments
returns to schooling
Issue Date: 1-Nov-1991
Citation: Labour Economics and Productivity, Vol. 6, 1994
Series/Report no.: Working Papers (Princeton University. Industrial Relations Section) ; 292
Abstract: Is the correlation between income and educational attainment a result of the payoff to investments in schooling? Since the experiment of randomly selecting individuals to go to school cannot be performed, non-experimental methods must be used to estimate the economic returns to schooling. This paper reviews new studies that measure the effect of schooling on income (1) by using comparisons of brothers, fathers and sons, and twins and (2) that focus on natural experiments. These studies provide very credible evidence that schooling does increase incomes and that earlier studies may have under- estimated the role of schooling in determining incomes.
Appears in Collections:IRS Working Papers

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