Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/35683 
Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 3961
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
We provide a comparison of return to schooling estimates based on an influential study by Angrist and Krueger (1991) using two stage least squares (TSLS), limited information maximum likelihood (LIML), jackknife (JIVE), and split sample instrumental variables (SSIV) estimation. We find that the estimated return to education is quite sensitive to the age controls used in the models as well as the estimation method used. In particular, we provide evidence that JIVE coefficients' standard errors are inflated by a group of extreme years of education observations, for which identification is especially weak. We propose to use Cook's Distance in order to identify influential outliers having substantial influence on first-stage JIVE coefficients and fitted values.
Schlagwörter: 
Cook's Distance
heteroskedasticity
outliers
return to education
specification
weak instruments
JEL: 
C13
C31
J31
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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