Estimates of the Economic Returns to Schooling from a New Sample of Twins
利用同卵双胞胎的工资和受教育年限数据，发现遗漏能力变量不会高估教育回报，但测量误差会低估；校正后，多上一年学使工资增长12%至16%。
This paper uses a new survey to contrast the wages of genetically identical twins with different schooling levels. Multiple measurements of schooling levels were also collected to assess the effect of reporting error on the estimated economic returns to schooling. The data indicate that omitted ability variables do not bias the estimated return to schooling upward but that measurement error does bias it downward. Adjustment for measurement error indicates that an additional year of schooling increases wages by 12 to 16 percent, a higher estimate of the economic returns to schooling than has been previously found. Copyright 1994 by American Economic Association.