A Review of Estimates of the Schooling/Earnings Relationship, with Tests for Publication Bias
Posted: 12 Mar 2001
There are 2 versions of this paper
A Review of Estimates of the Schooling/Earnings Relationship, with Tests for Publication Bias
NBER Working Paper No. w7457
Number of pages: 27
Posted: 05 May 2000
Last Revised: 18 Nov 2022
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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.
JEL Classification: I2
Suggested Citation: Suggested Citation
Ashenfelter, Orley C. and Harmon, Colm P. and Oosterbeek, Hessel, A Review of Estimates of the Schooling/Earnings Relationship, with Tests for Publication Bias. Available at SSRN: https://ssrn.com/abstract=223349
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