EDUCATION 1. Write down the human capital earnings function (i.e., the Mincer equation). Make sure toclearly specify the meaning of each variable. 2. Why the estimates from the Mincer equation may not be interpreted as the causal effect ofeducation on earnings?

EDUCATION 1. Write down the human capital earnings function (i.e., the Mincer equation). Make sure toclearly specify the meaning of each variable. 2. Why the estimates from the Mincer equation may not be interpreted as the causal effect ofeducation on earnings?

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter13: Earnings, Productivity, And The Job Market

Section: Chapter Questions

Problem 3CQ

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Question

EDUCATION

1. Write down the human capital earnings function (i.e., the Mincer equation). Make sure to
clearly specify the meaning of each variable.
2. Why the estimates from the Mincer equation may not be interpreted as the causal effect of
education on earnings?

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