Quarterly Journal of Economics
1936 1940 1948 1950 1954 1958 1959 1961 1965 1971 1973 1975 1976 1979 1983 1986 1987 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
Опубликовано на портале: 22-03-2007Joshua D. Angrist, Alan B. Krueger Quarterly Journal of Economics. 1991. Vol. 106. No. 4. P. 979-1014.
The authors establish that season of birth is related to educational attainment because of school start age policy and compulsory school attendance laws. Individuals born in the beginning of the year start school at an older age, and can therefore drop out after completing less schooling than individuals born near the end of the year. Roughly 25 percent of potential dropouts remain in school because of compulsory schooling laws. They estimate the impact of compulsory schooling on earnings by using quarter of birth as an instrument for education. The instrumental valuables estimate of the return to education is close to the ordinary least squares estimate, suggesting that there is little bias in conventional estimates.
Опубликовано на портале: 18-08-2004Bradford DeLong, Lawrence H. Summers Quarterly Journal of Economics. 1991. Vol. 106. No. 2. P. 445-502.
Using data from the United Nations Comparison Project and the Penn World Table, we find that machinery and equipment investment has a strong association with growth: over 1960-1985 each extra percent of GDP invested in equipment is associated with an increase in GDP growth of one third of a percentage point per year. This is a much stronger association than found between growth and any of the other components of investment. A variety of considerations suggest that this association is causal, that higher equipment investment drives faster growth, and that the social return to equipment investment in well-functioning market economies is on the order of 30 percent per year.