"Patrinos and Sakellariou use a nationally representative household survey to estimate returns to schooling in Venezuela from instrumental variables based on a supply-side intervention in the education market. These estimates apply to a subgroup of liquidity-constrained individuals, in the...

"Preliminary evidence suggests that the rates of return to education in Venezuela have been declining since the 1970s. Patrinos and Sakellariou rigorously estimate the returns to education in Venezuela for the period 1992-2002 and link them to earlier available estimates from the 1980s. They use...