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-cycle wage growth of U.S. white males into four main sources: education, hours worked, cognitive skills (Armed Forces … by heterogeneity while individual differences in hours worked and education explain the remaining part almost equally. We … reduction in the cost of higher education. Finally, because policy changes induce simultaneous movements in observed choices and …
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Most empirical investigations of the effects of cognitive skills assume that they are produced by schooling. Drawing on longitudinal data to estimate production functions for adult verbal and nonverbal cognitive skills, we find that: (1) School attainment has a significant and substantial effect...
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