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The perpetual inventory method used for the construction of education data per country leads to systematic measurement … education level between census data and observations constructed from enrolment data. We discuss a methodology for correcting …
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Estimates of the effect of education on GDP (the social return) have been hard to reconcile with micro evidence on the … of education reduces the private return by 2 percentage points, consistent with Katz-Murphy's (1992) elasticity of …
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