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Earnings Functions, Rates of Return and Treatment Effects : The Mincer Equation and Beyond

Heckman, James J.; Lochner, Lance; Todd, Petra - 2021

rates of return that takes into account tuition, income taxes and forms of uncertainty. We also contrast estimates based on …

Persistent link: https://www.econbiz.de/10013318351

Earnings Functions, Rates of Return and Treatment Effects : The Mincer Equation and Beyond

Heckman, James J.; Lochner, Lance; Todd, Petra - 2022

This paper considers the interpretation of "Mincer rates of return." We test and reject the Mincer model. It fails to track the time series of true returns. We show how repeated cross section and panel data improves the ability of analysts to estimate the ex ante and ex post marginal rate of...

Persistent link: https://www.econbiz.de/10014063044

Earnings Functions and Rates of Return

Heckman, James J.; Lochner, Lance; Todd, Petra - 2021

internal rates of return that take into account tuition costs, income taxes and nonlinearities in the earnings …

Persistent link: https://www.econbiz.de/10013325368

The nature of credit constraints and human capital

Lochner, Lance; Monge-Naranjo, Alexander - 2010

ability and college attendance for all income and wealth backgrounds; (ii) the rising importance of family income as a …

Persistent link: https://www.econbiz.de/10003951129

The nature of credit constraints and human capital

Lochner, Lance; Monge-Naranjo, Alexander - 2008

markets. These constraints imply cross-sectional patterns for schooling, ability, and family income that are consistent with U … -- schooling relationship for low-income youth. We show that the rising empirical importance of familial wealth and income in …