Large-Scale Education Reform in General Equilibrium: Regression Discontinuity Evidence from India
一般均衡下的大规模教育改革：来自印度的断点回归证据
The economic consequences of large-scale government investments in education depend on general equilibrium effects in both the labor market and the education sector. I develop a general equilibrium model capturing the consequences of massive countrywide schooling initiatives. I provide unbiased estimates of the model’s elasticities, using a regression discontinuity derived from Indian government policy. The earnings returns to a year of education are 13.4%, and the general…