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    The return to schooling: estimates from a sample of young Australian twins

    Access Status
    Fulltext not available
    Authors
    Miller, Paul
    Mulvey, C.
    Martin, N.
    Date
    2006
    Type
    Journal Article
    
    Metadata
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    Citation
    Miller, Paul and Mulvey, Charles and Martin, Nick. 2006. The return to schooling: estimates from a sample of young Australian twins. Labour Economics. 13 (5): pp. 571-587.
    Source Title
    Labour Economics .
    DOI
    10.1016/j.labeco.2004.10.008
    ISSN
    0927-5371
    School
    School of Economics and Finance
    URI
    http://hdl.handle.net/20.500.11937/15697
    Collection
    • Curtin Research Publications
    Abstract

    This study uses a sample of young Australian twins to examine whether the findings reported in Ashenfelter and Krueger (1994) and Miller, Mulvey, and Martin (1994) are robust to choice of sample and dependent variable. The economic return to schooling in Australia is between 5 and 7 percent when account is taken of genetic and family effects using either fixed-effects models or the selection effects model of Ashenfelter and Krueger. Given the similarity of the findings in this and in related studies, it would appear that the models applied by Ashenfelter and Krueger are robust. Moreover, viewing the OLS and IV estimators as lower and upper bounds in the manner of Black, Berger and Scott (2000), it is shown that the bounds on the return to schooling in Australia are much tighter than in Ashenfelter and Krueger, and the return is bounded at a much lower level than in the US.

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