Li, Hongbin; Liu, Pak Wai; Zhang, Junsen - In: Journal of Development Economics 97 (2012) 2, pp. 494-504
This paper empirically estimates the return to education using twins data that the authors collected from urban China. Our ordinary least-squares estimate shows that one year of schooling increases an individual's earnings by 8.4%. If we use a within-twin fixed effects model, the return is...