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The Return to Schooling in Structural Dynamic Models: A Survey of the Literature (2006)
| Citations: | 42 - 17 self |
BibTeX
@MISC{Belzil06thereturn,
author = {Christian Belzil},
title = {The Return to Schooling in Structural Dynamic Models: A Survey of the Literature },
year = {2006}
}
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Abstract
This papers contains a survey of the recent literature devoted to the returns to schooling within a dynamic structural framework. I present a historical perspective on the evolution of the literature, from early static models set in a selectivity framework (Willis and Rosen, 1979) to the recent literature, stimulated by Keane and Wolpin (1997), and which uses stochastic dynamic programming techniques. After reviewing the literature thoroughly, I compare the structural approach with the IV (experimental) approach. I present their commonalities and I also discuss their fundamental differences. The discussion is focussed on the comprehension of the discrepancy between structural and reduced-form estimates of the returns to schooling.
