Title

A Review of Estimates of the Schooling/Earnings Relationship, with Tests for Publication Bias

Author(s)

Orley Ashenfelter Orley Ashenfelter (Princeton University and NBER)

Colm Harmon Colm Harmon (University College Dublin and CEPR)

Hessel Oosterbeek Hessel Oosterbeek (Tinbergen Institute and University of Amsterdam)

Abstract

In this paper we provide an analytical review of previous estimates of the rate of return on schooling investments and measure how these estimates vary by country, over time, and by estimation method. We find evidence of reporting (or file drawer) bias in the estimates and, after due account is taken of this bias, we find that differences due to estimation method are much smaller than is sometimes reported, although some are statistically significant. We also find that estimated returns are higher in the U.S. and they have increased in the last two decades.

Creation Date

1999-10

Section URL ID

IRS

Paper Number

425

URL

https://dataspace.princeton.edu/bitstream/88435/dsp01sq87bt631/1/425.pdf

File Function

Jel

N9

Keyword(s)

estimation method, rate of return, schooling investments

Suppress

false

Series

1