| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w11544 |
| 来源ID | Working Paper 11544 |
| Earnings Functions, Rates of Return and Treatment Effects: The Mincer Equation and Beyond | |
| James J. Heckman; Lance J. Lochner; Petra E. Todd | |
| 发表日期 | 2005-08-08 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | This paper considers the interpretation of "Mincer rates of return." We test and reject the Mincer model. It fails to track the time series of true returns. We show how repeated cross section and panel data improves the ability of analysts to estimate the ex ante and ex post marginal rate of returns. Accounting for sequential revelation of information calls into question the validity of the internal rate of return as a tool for policy analysis. The large estimated psychic costs of schooling found in recent work helps to explain why persons do not attend school even though the financial rewards for doing so are high. We present methods for computing distributions of ex post and ex ante returns. |
| 主题 | Econometrics ; Estimation Methods |
| URL | https://www.nber.org/papers/w11544 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/569188 |
| 推荐引用方式 GB/T 7714 | James J. Heckman,Lance J. Lochner,Petra E. Todd. Earnings Functions, Rates of Return and Treatment Effects: The Mincer Equation and Beyond. 2005. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w11544.pdf（2083KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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