Heterogeneity in Marginal Non-Monetary Returns to Higher Education
利用大学入学机会和学生贷款政策的差异，估计大学教育对认知能力和健康的影响，发现认知技能回报异质且为正，身体健康回报同质为正，心理健康回报接近零。
In this paper we estimate the effects of college education on cognitive abilities and health exploiting exogenous variation in college availability and student loan regulations. By means of semiparametric local instrumental variables techniques we estimate marginal treatment effects in an environment of essential heterogeneity. The results suggest heterogeneous but always positive effects on cognitive skills and homogeneously positive effects for all health outcomes but mental health, where the effects are around zero throughout. We find that likely mechanisms of positive physical health returns are effects of college education on physically demanding activities on the job and health behavior such as smoking and drinking while mentally more demanding jobs might explain the skill returns.