| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6697 |
| DP6697 Creditor Rights and Corporate Risk-taking | |
| Viral Acharya; Yakov Amihud; Lubomir P. Litov | |
| 发表日期 | 2008-02-07 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | Do students benefit from compulsory schooling? Researchers using changes in compulsory schooling laws as instruments have typically estimated very high returns to additional schooling that are greater than the corresponding OLS estimates and concluded that the group of individuals who are influenced by the law change have particularly high returns to education. That is, the Local Average Treatment Effect (LATE) is larger than the average treatment effect (ATE). However, studies of a 1947 British compulsory schooling law change that impacted about half the relevant population have also found very high instrumental variables returns to schooling (about 15%), suggesting that the ATE of schooling is also very high and higher than OLS estimates suggest. We utilize the New Earnings Survey Panel Data-set (NESPD), that has superior earnings information compared to the datasets previously used and find instrumental variable estimates that are small and much lower than OLS. In fact, there is no evidence of any positive return for women and the return for men is in the 4-7% range. These estimates provide no evidence that the ATE of schooling is very high. |
| 主题 | Labour Economics |
| 关键词 | Compulsory schooling Return to education |
| URL | https://cepr.org/publications/dp6697 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535534 |
| 推荐引用方式 GB/T 7714 | Viral Acharya,Yakov Amihud,Lubomir P. Litov. DP6697 Creditor Rights and Corporate Risk-taking. 2008. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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