This paper presents a survey and interpretation of recent research on the return to education. The empirical findings … in a series of current papers suggest that the causal effect of education on earnings is understated by standard …

, and the relative pay of teachers -- on the rate of return to education for men born between 1920 and 1949. Using earnings … education in the region where they currently reside, and other factors. A decrease in the pupil-teacher ratio from 30 to 25, for … example, is associated with a 0.4 percentage point increase in the rate of return to education. The estimated relationship …