Where Do the Returns to Schooling Come From? Educational Transitions and Labor Market Payoffs
教育回报从何而来?教育阶段转换与劳动力市场收益
Conventional research on educational effects typically either employs a "years of schooling" measure of education, or dichotomizes attainment as a point-in-time treatment. Yet, such a conceptualization of education is misaligned with the sequential process by which individuals make educational transitions. In this paper, I propose a causal mediation framework for the study of educational effects on outcomes such as earnings. The framework considers the effect of a given…