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Title: Estimating Returns to Schooling: When Does the Career Begin?
Resulting in 1 citation.
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Light, Audrey L. |
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Estimating Returns to Schooling: When Does the Career Begin? Economics of Education Review 17,1 (February 1998): 31-45. Also: http://www.sciencedirect.com/science/article/pii/S0272775797000113 Cohort(s): NLSY79 Publisher: Elsevier Keyword(s): Life Cycle Research; Schooling; Schooling, Post-secondary; Wage Models; Work Experience Because the life cycle is not neatly divided into a period of full-time schooling followed by a period of full-time employment, it is unclear where analysts should "start the clock" on the career for purposes of estimating the returns to schooling. This study uses data from the National Longitudinal Survey of Youth to determine how estimated returns to schooling are influenced by the choice of career starting date. Schooling and experience measures are defined for four alternative starting dates and then used to estimate a standard wage model for samples of white and non-white men. Estimated returns to schooling increase dramatically as an increasingly later starting date is used because increasingly large amounts of unmeasured, "pre-career" work experience bias the schooling effects. A specification that controls more accurately for the accumulation of schooling and work experience is suggested as an alternative to the orthodox model. (C) 1998 Elsevier Science Ltd. All rights reserved. |
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Bibliography Citation
Light, Audrey L. "Estimating Returns to Schooling: When Does the Career Begin?" Economics of Education Review 17,1 (February 1998): 31-45.
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