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Author: Lee, Lung-Fei
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Trost, Robert P. Lee, Lung-Fei |
Technical Training and Earnings: A Polychotomous Choice Model with Selectivity Review of Economics and Statistics 66,1 (February 1984): 151-156. Also: http://www.jstor.org/stable/1924708 Cohort(s): Young Men Publisher: Harvard University Press Keyword(s): Educational Returns; Schooling; Vocational Education; Wages Permission to reprint the abstract has not been received from the publisher. This paper presents a model with polychotomous choices and selectivity and then applies it to the problem of estimating the returns to technical school training. Using the NLS of Young Men, the paper finds evidence of self-selectivity in the high school wage equation and estimates the wage effect of technical school to be a $1. 27 per hour increase in wages. This amounts to an estimated rate of return of 9 to 11. 2%, which is slightly higher than estimates obtained by others. Without corrections for selectivity bias, the rate of return is underestimated by 6%. |
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Bibliography Citation
Trost, Robert P. and Lung-Fei Lee. "Technical Training and Earnings: A Polychotomous Choice Model with Selectivity." Review of Economics and Statistics 66,1 (February 1984): 151-156.
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