Recent studies debate how the unobserved dependence between the monetary return to college education and selection into college can be characterized. This paper examines this question using British data. We develop a semiparametric local instrumental variables estimator for identified features...

Recent studies debate how the unobserved dependence between the monetary return to college education and selection into college can be characterised. This paper examines this question using British data. We develop a semiparametric local instrumental variables estimator for identified features...