Smoking, Discount Rates, and Returns to Education

Individual time preference determines schooling enrolment. Moreover, smoking behavior in early ages has been shown to be highly related to time preference rates. Accordingly, we use smoking at age 16 as an instrument for schooling in order to cope with ability bias in a returns to education regression. Doing this for Austrian cross-sectional data, we find no evidence of ability bias.

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Year of publication:	2000
Authors:	Fersterer, Josef ; Winter-Ebmer, Rudolf
Publisher:	Bonn : Institute for the Study of Labor (IZA)
Subject:	Bildungsertrag \| Rauchen \| Soziale Diskontrate \| Österreich \| Returns to education \| instrumental variables \| ability bias \| discount rates

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Series:	IZA Discussion Papers ; 126
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	834547759 [GVK] hdl:10419/20966 [Handle]
Classification:	I22 - Educational Finance ; J31 - Wage Level and Structure; Wage Differentials by Skill, Training, Occupation, etc
Source:	EconStor