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This paper examines the 1997 additions to the Current Population Survey education question. These new questions allow … imputed "highest grade completed" is one-tenth grade greater and the estimated return to education .6 to 1 percentage points …
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This paper estimates returns to education using a dynamic model of educational choice that synthesizes approaches in … differentials. For some, there are substantial causal effects of education at all stages of schooling. …
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We estimate a dynamic programming model of schooling decisions in which the degree of risk aversion can be inferred from schooling decisions. In our model, individuals are heterogeneous with respect to school and market abilities but homogeneous with respect to the degree of risk aversion. We...
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