Regan, Tracy L.; Burghardt, Galen; Oaxaca, Ronald L. - Institute for the Study of Labor (IZA) - 2006
This paper develops a theoretical model of optimal schooling levels where ability and family background are the central explanatory variables. We derive schooling demand and supply functions based on individual wealth maximization. Using NLSY79 data we stratify our sample into one-year "FTE"...
