Search Results
Title: Omitted Variable Bias in Panel Data: Estimating the Returns to Schooling
Resulting in 1 citation.
| 1. |
Chamberlain, Gary |
|
Omitted Variable Bias in Panel Data: Estimating the Returns to Schooling Annales de l'INSEE 30-31 (April-September 1978): 49-82. Also: http://www.jstor.org/stable/20075285 Cohort(s): Young Men Publisher: INSEE (Institut National de la Statistique et des Etudes Economiques) Keyword(s): Earnings; Educational Returns; Heterogeneity; Job Training; Schooling; Work Experience Permission to reprint the abstract has not been received from the publisher. This paper uses panel data to control for heterogeneity in estimating the effect of variables that are not changing over time. Identification is achieved by structuring the cross-equation residual covariances via a set of common omitted variables, which are in turn related to a set of measured exogenous variables. The principal finding is a substantial downward bias in regression estimates of the effect of schooling upon wages for a sample of young men. This finding is interpreted by relating schooling to the variance in experience-earnings profiles associated with investment in on-the-job training. |
|
|
Bibliography Citation
Chamberlain, Gary. "Omitted Variable Bias in Panel Data: Estimating the Returns to Schooling." Annales de l'INSEE 30-31 (April-September 1978): 49-82.
|