The Distribution of Lifetime Earnings Returns to College
利用瑞典登记数据估计大学教育的终身收益，发现收益随认知与非认知能力变化大，但随父母收入变化小，支持基于可观测特征的自选择。
I use Swedish registry data to estimate lifetime earnings returns to college and how they vary with observed and unobserved characteristics. The richness of the data also allows me to examine heterogeneity with respect to cognitive and noncognitive ability and parental earnings. Local instrumental variable analysis is used to recover marginal and average treatment effects under selection on gains. The findings support the notion of self-selection, but mainly on observed characteristics. Returns vary little with parental earnings but substantially with respect to both cognitive and noncognitive ability, thus suggesting important complementarities between formal schooling and informal skills.