Accounting for heterogeneous returns in sequential schooling decisions |
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Authors: | Gema Zamarro |
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Affiliation: | RAND Corporation, United States |
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Abstract: | This paper presents a method for estimating returns to multiple schooling levels taking into account that returns may be heterogeneous among agents and that educational decisions are made sequentially. A sequential decision model explicitly considers that the level of education is the result of previous schooling choices and so, the variation of supply-side instruments over time will emerge as a source of identification of the desired parameters. A test for heterogeneity in returns from sequential schooling decisions is developed and expressions for Marginal Treatment Effects are obtained in this context. Returns are estimated and tested from cross-sectional data from a Spanish household survey that contains rich family background information and useful instruments. This methodology is used to analyze possible effects of the 1970 reform of the Spanish education system. |
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Keywords: | I21 I28 C10 J31 |
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