Estimating the Return to Endogenous Schooling Decisions via Conditional Second Moments
用条件二阶矩方法识别教育对工资的影响，避免使用工具变量，对澳大利亚工人样本的估计显示，考虑教育内生性后教育回报率从6%升至10%。
This paper employs conditional second moments to identify the impact of education in wage regressions where education is treated as endogenous. This approach avoids the use of instrumental variables in a setting where instruments are frequently not available. We employ this methodology to estimate the returns to schooling for a sample of Australian workers. We find that accounting for the endogeneity of education in this manner increases the estimated return to education from 6 percent to 10 percent.