Estimating the Return to Endogenous Schooling Decisions via Conditional Second Moments
利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，并用澳大利亚工人数据估计出教育回报率从6%升至10%。
Abstract 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.