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Title: Interpreting Instrumental Variables Estimates of the Returns to Schooling
Resulting in 1 citation.
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Kling, Jeffrey R. |
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Interpreting Instrumental Variables Estimates of the Returns to Schooling NBER Working Paper No. 7989, National Bureau of Economic Research, October 2000 Cohort(s): NLSY79, Young Men Publisher: National Bureau of Economic Research (NBER) Keyword(s): Colleges; High School; Schooling; Variables, Instrumental This paper synthesizes economic insights from theoretical models of schooling choice based on individual benefits and econometric work interpreting instrumental variables estimates as weighted averages of individual-specific causal effects. Linkages are illustrated using college proximity to instrument for schooling. After characterizing groups differentially affected by the instrument according to family background, I directly compute weights underlying estimation of the averall return. In analyzing the level of schooling at which individuals change their behavior in response to the instrument, I demonstrate that this instrument has its greatest impact on the transition from high school to college. Specification robustness is also examined. |
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Bibliography Citation
Kling, Jeffrey R. "Interpreting Instrumental Variables Estimates of the Returns to Schooling." NBER Working Paper No. 7989, National Bureau of Economic Research, October 2000. |