Strathprints Home | Open Access | Browse | Search | User area | Copyright | Help | Library Home | SUPrimo

Learning about heterogeneity in returns to schooling

Koop, G.M. and Tobias, J. (2004) Learning about heterogeneity in returns to schooling. Journal of Applied Econometrics, 19 (7). pp. 827-849. ISSN 0883-7252

[img]
Preview
PDF (strathprints006913.pdf)
Download (288Kb) | Preview

    Abstract

    Using data from the National Longitudinal Survey of Youth (NLSY) we introduce and estimate various Bayesian hierarchical models that investigate the nature of unobserved heterogeneity in returns to schooling. We consider a variety of possible forms for the heterogeneity, some motivated by previous theoretical and empirical work and some new ones, and let the data decide among the competing specifications. Empirical results indicate that heterogeneity is present in returns to education. Furthermore, we find strong evidence that the heterogeneity follows a continuous rather than a discrete distribution, and that bivariate normality provides a very reasonable description of individual-level heterogeneity in intercepts and returns to schooling.

    Item type: Article
    ID code: 6913
    Notes: Working paper version
    Keywords: economics, econometrics, statistics, finance, schoolong, bayesian analysis, Economic Theory, Statistics, Economics and Econometrics, Social Sciences (miscellaneous)
    Subjects: Social Sciences > Economic Theory
    Social Sciences > Statistics
    Department: Strathclyde Business School > Economics
    Related URLs:
    Depositing user: Strathprints Administrator
    Date Deposited: 25 Sep 2008
    Last modified: 05 Sep 2014 13:37
    URI: http://strathprints.strath.ac.uk/id/eprint/6913

    Actions (login required)

    View Item

    Fulltext Downloads: