Describe the estimate you get for bβ1. Based on your results, how much does the model predict your hourly wage to rise for one additional year of schooling completed?
Economics of Education PS 5 Write the name of all group members, and your responses on a single document to submit. Estimating the Returns to Schooling For this section we will analyze data describing individual earnings, their education and experience profile, and other characteristics. We will dive into the economic relationship between education and wages […]