Smoking, Discount Rates, and Returns to Education

Individual time preference determines schooling enrolment. Moreover, smoking behavior in early ages has been shown to be highly related to time preference rates. Accordingly, we use smoking at age 16 as an instrument for schooling in order to cope with ability bias in a returns to education regression. Doing this for Austrian cross-sectional data, we find no evidence of ability bias.

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Year of publication:	2000-03
Authors:	Fersterer, Josef ; Winter-Ebmer, Rudolf
Institutions:	Institute for the Study of Labor (IZA)
Subject:	Returns to education \| instrumental variables \| ability bias \| discount rates

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Extent:	application/pdf
Series:	IZA Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 5 Number 126 15 pages
Classification:	J31 - Wage Level and Structure; Wage Differentials by Skill, Training, Occupation, etc ; I22 - Educational Finance
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005700985