How important are fixed effects and time trends in estimating returns to schooling? Evidence from a replication of Jacobson, Lalonde, and Sullivan, 2005
估计教育回报时固定效应与时间趋势有多重要？一项复现研究
Summary A substantial and rapidly growing literature has developed around estimating earnings gains from 2‐year college degrees using administrative data. These papers almost universally employ a person‐level fixed‐effects strategy to estimate earnings premia net of fixed attributes. We note that the seminal piece on which these papers build—Jacobson, Lalonde, & Sullivan, Journal of Econometrics , 2005, 125 (1–2), 271–304—provides theoretical and empirical evidence for the…