Aryal, Gaurab; Bhuller, Manudeep; Lange, Fabian - 2020
The social and the private returns to education differ when education can increase productivity, and also be used to … signal productivity. We show how instrumental variables can be used to separately identify and estimate the social and … the life-cycle, is 7.2%. Thus, 70% of the private returns to education can be attributed to education raising productivity …