A Review of Estimates of the Schooling/ Earnings Relationship, with tests for Publication Bias.

In this paper we provide an analytical review of previous estimates of the rate of return on schooling investments and measure how these estimates vary by country, over time, and by estimation method. We find evidence of reporting (or "file drawer") bias in the estimates and, after due account is taken of this bias, we find only weak evidence that the estimation method has any effect on the estimates despite differences by method being the focus of considerable attention recently.