Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/92617
Authors: 
Brunello, Giorgio
Weber, Guglielmo
Weiss, Christoph T.
Year of Publication: 
2012
Series/Report no.: 
ISER Discussion Paper, Institute of Social and Economic Research, Osaka University 842
Abstract: 
We estimate the effect of education on lifetime income in Europe, by distinguishing between individuals who lived in rural or urban areas during childhood and between individuals who had access to many or few books at age ten. We instrument years of education using reforms of compulsory education in nine different countries, and find that individuals in rural areas were most affected by the reforms. Among those affected, individuals with many books at home at age ten enjoyed substantially higher returns to their additional education. We argue that the long-lasting beneficial effects of having books at home are due to the cultural environment in the household and the development of cognitive skills rather than to the presence of short-term liquidity constraints.
Subjects: 
lifetime earnings
returns to education
Europe
JEL: 
J24
Document Type: 
Working Paper

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