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Title:Smoking, Discount Rates, and Returns to Education PDF Logo
Authors:Fersterer, Josef
Winter-Ebmer, Rudolf
Issue Date:2000
Series/Report no.:IZA Discussion paper series 126
Abstract: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.
Subjects:Returns to education
instrumental variables
ability bias
discount rates
JEL:I22
J31
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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