Borrowing constraints and the returns to schooling:

duals. We apply this idea using least-squares, instrumental variables regression, and a structural economic model to measure the extent of borrowing constraints on schooling choices. Because returns to schooling and quantity of schooling are jointly determined, the structural approach allows us to e...

Ausführliche Beschreibung

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Bibliographische Detailangaben
Beteiligte Personen: Cameron, Stephen V. (VerfasserIn), Taber, Christopher 1966- (VerfasserIn)
Format: Buch
Sprache:Englisch
Veröffentlicht: Cambridge, Mass. National Bureau of Economic Research 2000
Schriftenreihe:NBER working paper series 7761
Schlagwörter:
Links:http://papers.nber.org/papers/w7761.pdf
Zusammenfassung:duals. We apply this idea using least-squares, instrumental variables regression, and a structural economic model to measure the extent of borrowing constraints on schooling choices. Because returns to schooling and quantity of schooling are jointly determined, the structural approach allows us to explore the importance of credit market constraints on schooling choices once the influences of ability and relative wages are parceled out. This type of experiment cannot be done in standard models of schooling-attainment. None of these methods produces evidence of borrowing constraints
Umfang:39, [14] S. graph. Darst.