000			02096cam a22003017 4500
001			w0049
003			NBER
005			20211020115547.0
006			m o d
007			cr cnu||||||||
008			210910s1974 mau fo 000 0 eng d
100	1		_aLeibowitz, Arleen.
245	1	0	_aYears and Intensity of Schooling Investing / _cArleen Leibowitz.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c1974.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w0049
500			_aAugust 1974.
520	3		_aAn essential feature of schooling is not only that it occurs in a different site than most on-the-job training but also that it is more intensive. That is, a smaller proportion of gross potential earnings is sacrificed in on-the-job training than in schooling. In estimating human capital earnings functions it has generally been assumed that during schooling 100% of gross potential earnings are invested in all years, while in on-the-job training this percentage is smaller and is a declining function of age. This assumption has been quite useful since it allows the identification of an estimate of the rate of return on schooling from a regression of earnings on years of schooling. This paper argues that the percentage of gross earnings invested may fall below 100% well before schooling is ended, that this percentage is likely to be correlated with years of schooling, and thus this procedure yields only a biased estimate of the rate of return to schooling.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w0049.
856	4	0	_uhttps://www.nber.org/papers/w0049
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w0049
942			_2ddc _cW-PAPER
999			_c348554 _d307116