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dc.contributor.authorHeckman, James Josephen_US
dc.contributor.authorLochner, Lance J.en_US
dc.contributor.authorTodd, Petra E.en_US
dc.date.accessioned2008-09-05en_US
dc.date.accessioned2010-07-07T11:33:56Z-
dc.date.available2010-07-07T11:33:56Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/35129-
dc.description.abstractThe internal rate of return to schooling is a fundamental economic parameter that is often used to assess whether expenditure on education should be increased or decreased. This paper considers alternative approaches to estimating marginal internal rates of return for different schooling levels. We implement a general nonparametric approach to estimate marginal internal rates of return that take into account tuition costs, income taxes and nonlinearities in the earnings-schooling-experience relationship. The returns obtained by the more general method differ substantially from Mincer returns in levels and in their evolution over time. They indicate relatively larger returns to graduating from high school than from graduating from college, although both have been increasing over time.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA Discussion Papers 3310en_US
dc.subject.jelC31en_US
dc.subject.ddc330en_US
dc.subject.keywordSchoolingen_US
dc.subject.keywordmarginal internal rate of returnen_US
dc.subject.keywordnonparametric estimationen_US
dc.subject.stwBildungsinvestitionen_US
dc.subject.stwBildungsertragen_US
dc.subject.stwEinkommenen_US
dc.subject.stwSch├Ątzungen_US
dc.subject.stwUSAen_US
dc.titleEarnings functions and rates of returnen_US
dc.typeWorking Paperen_US
dc.identifier.ppn559866690en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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