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dc.contributor.authorHeckman, James Josephen
dc.contributor.authorLochner, Lance J.en
dc.contributor.authorTodd, Petra E.en
dc.date.accessioned2008-09-05-
dc.date.accessioned2010-07-07T11:33:56Z-
dc.date.available2010-07-07T11:33:56Z-
dc.date.issued2008-
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
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x3310en
dc.subject.jelC31en
dc.subject.ddc330en
dc.subject.keywordSchoolingen
dc.subject.keywordmarginal internal rate of returnen
dc.subject.keywordnonparametric estimationen
dc.subject.stwBildungsinvestitionen
dc.subject.stwBildungsertragen
dc.subject.stwEinkommenen
dc.subject.stwSchätzungen
dc.subject.stwUSAen
dc.titleEarnings functions and rates of return-
dc.type|aWorking Paperen
dc.identifier.ppn559866690en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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