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Title: Explaining Schooling Returns and Output Levels Across Countries

Citation Type: Miscellaneous

Publication Year: 2014

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Abstract: This paper develops and calibrates a model with endogenous schooling and returns to schooling to explain Mincerian returns variation across countries, and assess the importance of schooling on output variation. The calibrated model is able to explain forty percent of the variation in the data, substantially more than linear regressions explain. Variation in the direct costs of schooling driven by government funding levels relative to enrollment rates and fertility rates contribute the most to the explanatory power of the model. Nevertheless, high effective discount rates are needed to reconcile the high level of Mince-rian returns in the data. In the calibrated model, schooling contributes on average one-third to output per worker.

Url: http://www.kdi.re.kr/upload/10152/Paper_15.pdf

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Authors: Kaboski, Joseph

Publisher: University of Notre Dame

Data Collections: IPUMS USA

Topics: Education

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