The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Split-Sample Instrumental Variables Estimates of the Return to Schooling
Abstract
This article reevaluates recent instrumental variables (IV) estimates of the returns to schooling in light of the fact that two-stage least squares is biased in the same direction as ordinary least squares (OLS) even in very large samples. We propose a split-sample instrumental variables (SSIV) estimator that is not biased toward OLS. SSIV uses one-half of a sample to estimate parameters of the first-stage equation. Estimated first-stage parameters are then used to construct fitted values and second-stage parameter estimates in the other half sample. SSIV is biased toward 0, but this bias can be corrected. The splt-sample estimators confirm and reinforce some previous findings on the returns to schooling but fail to confirm others.
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Cites
Instrumental Variables Regression with Weak Instruments
Staiger, D., & Stock, J. (1994) · doi:10.3386/t0151 · Cited by 5,302
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Angrist, J. D., & Krueger, A. B. (2001) · Journal of Economic Perspectives · doi:10.1257/jep.15.4.69 · Cited by 2,355
Self-citationSanderson, E., Glymour, M. M., Holmes, M. V., Kang, H., Morrison, J., Munafò, M. R., Palmer, T., Schooling, C. M., Wallace, C., Zhao, Q., et al. (2022) · Nature Reviews Methods Primers · doi:10.1038/s43586-021-00092-5 · Cited by 2,229
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Metadata
- Authors
- Angrist, J. D., & Krueger, A. B.
- Venue
- Journal of Business & Economic Statistics
- Publisher
- Informa UK Limited
- Published
- 1995-04
- Volume
- 13
- Issue
- 2
- Pages
- 225-235
- ISSN
- 0735-0015 (ISSN-L)
- 1537-2707
- OpenAlex
- W2086426685
- Cited by
- 380
- References
- 1
- FWCI
- 3.47
- Type
- journal article
- Language
- en
- Open access
- closed
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- Angrist, J. D., & Krueger, A. B. (1995). Split-Sample Instrumental Variables Estimates of the Return to Schooling. Journal of Business & Economic Statistics. https://doi.org/10.1080/07350015.1995.10524597
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
