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One of the best documented relationships in economics is the link between education and income: higher educated people … have higher incomes. Advocates argue that education provides skills, or human capital, that raises an individual …'s productivity. Critics argue that the documented relationship is not causal. Education does not generate higher incomes; instead …
Persistent link: https://www.econbiz.de/10012471909
This paper uses a new survey to contrast the wages of genetically identical twins with different schooling levels. Multiple measurements of schooling levels were also collected to assess the effect of reporting error on the estimated economic returns to schooling. The data indicate that omitted...
Persistent link: https://www.econbiz.de/10012474827