TAILIEUCHUNG - Research " A Comparative Study of returns to education and the Importance of Genetic and Environment Factors: Evidence from Different twins data "

A Comparative Study of returns to education and the Importance of Genetic and Environment Factors: Evidence from Different twins data It thus seems likely that the character of equilibrium will depend crucially on the particular institutions of any choice program. Further research with large-scale voucher programs will be needed to determine whether administrators of effective schools are rewarded by increased demand in the choice regimes that these policies create. | A Comparative Study of Returns to Education and the Importance of Genetic and Environmental Factors Evidence from Different Twins Data YUNG Chor-Wing Linda A Thesis Submitted in Partial Fulfilment of the Requirements for the Degree of Doctor of Philosophy in Economics @ The Chinese University of Hong Kong May 2000 The Chinese University of Hong Kong holds the copyright of this thesis. Any person s intending to use a part or whole of the materials in the thesis in a proposed publication must seek copyright release from the Dean of the Graduate School. UMI Number 9984690 Copyright 2000 by Yung Chor-Wing Linda All rights reserved. _ Si UMI UMI Microform 9984690 Copyright 2000 by Bell Howell Information and Learning Company. All rights reserved. This microform edition is protected against unauthorized copying under Title 17 United States Code. Bell Howell Information and Learning Company 300 North Zeeb Road . Box 1346 Ann Arbor Ml 48106-1346 Abstract There have been numerous twin-based studies in the past that control for the unobservable variables in the analyses. However these past studies have often yielded contradictory results with no consensus on some important issues and no definite conclusions. The objective of the present study is an attempt to explain some of the differences in the past studies and to re-examine some issues on returns to education the importance of genetic and environmental factors and the significance of measurement errors. This study applies four twin-based models to three available US twin data. The empirical results in this study show that 1 while some differences in existing studies are caused by different data used other differences are due to different models used 2 the true returns to schooling are mostly less than the overall returns to schooling indicating a positive omitted variable bias 3 the omitted variables are a significant portion viz. approximately 40 of the overall returns to schooling 4 these omitted variables when .

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