Chatterji, Monojit; Seaman, Paul T.; Larry D. Singell Jr. - In: Oxford Economic Papers 55 (2003) 2, pp. 191-215
Education may enhance earnings either because of human capital increases or by signalling unobservable worker attributes. Previous tests of these alternatives relied on ad hoc distinctions between them. Our theoretical model provides a direct signal measure as the difference between required and...