This paper is a review of the literature in economics up to the early 1980s on the issue of estimating the earnings return to schooling and labor market experience. It begins with a presentation of Adam Smith's (1776) analysis of wage determination, with the second of his five points on...

This paper is a review of the literature in economics up to the early 1980s on the issue of estimating the earnings return to schooling and labor market experience. It begins with a presentation of Adam Smith's (1776) analysis of wage determination, with the second of his five points on...

We apply the unordered monotonicity setting of Heckman and Pinto (2018) to estimate the distribution of response types and the counterfactual outcomes associated with the choice of a STEM or non-STEM college. Instrumental variation is induced by the proximity to universities offering STEM and/or...

We use data from the National Longitudinal Study of Adolescent to Adult Health to investigate the association between having acne in middle to high school and subsequent educational and labor market outcomes. We find that having acne is strongly positively associated with overall grade point...