This paper revisits the issue of estimating the returns to schooling within a framework that allows multiple unobserved skills with potentially time-varying prices where both skills and prices are possibly correlated with schooling. A common approach to addressing the problem of ability bias...

We propose an easily computable measure called the Major Complexity Index (MCI) that captures the latent skills taught in different majors. By applying the Method of Reflections to the major-to-occupation network, we construct a scalar measure of the relative complexity of majors. Our measure...