Title

Estimates of the Economic Return to Schooling from a New Sample of Twins

Author(s)

Orley Ashenfelter Orley Ashenfelter (Princeton University)

Alan B. Krueger Alan Krueger (Princeton University)

Abstract

This paper uses a new survey to contrast the wages of genetically identical twins with different schooling levels. Multiple measurements of schooling levels were also collected to assess the effect of reporting error on the estimated economic returns to schooling. The data indicate that omitted ability variables do not bias the estimated return to schooling upward, but that measurement error does bias it downward. Adjustment for measurement error indicates that an additional year of schooling increases wages by 12-l6t, a higher estimate of the economic returns to schooling than has been previously found.

Creation Date

1992-07

Section URL ID

IRS

Paper Number

304

URL

https://dataspace.princeton.edu/bitstream/88435/dsp01hd76s007p/1/304revised.pdf

File Function

Jel

C49

Keyword(s)

twins, return to education, education, measurement error

Suppress

false

Series

1