Empirical Framework for Cournot Oligopoly with Private Information
In: RAND Journal of Economics, Forthcoming
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In: RAND Journal of Economics, Forthcoming
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In: American economic review, Band 112, Heft 5, S. 1669-1702
ISSN: 1944-7981
This paper considers the use of instruments to identify and estimate private and social returns to education within a model of employer learning. What an instrument identifies depends on whether it is hidden from, or transparent (i.e., observed ) to, the employers. A hidden instrument identifies private returns to education, and a transparent instrument identifies social returns to education. We use variation in compulsory schooling laws across noncentral and central municipalities in Norway to, respectively, construct hidden and transparent instruments. We estimate a private return of 7.9 percent, of which 70 percent is due to increased productivity and the remaining 30 percent is due to signaling. (JEL D82, H75, I26, I28, J24, J31)
In: CESifo Working Paper No. 8092
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In: NBER Working Paper No. w25885
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In: NBER Working Paper No. w25885
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In: IZA Discussion Paper No. 12953
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In: Forthcoming, The Review of Economic Studies
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In: Forthcoming, The Review of Economic Studies
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In: CESifo Working Paper No. 8115
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In: The Review of Economic Studies
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In: CEPR Discussion Paper No. DP12730
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