Angel de la Fuente and Rafael Domenech
We construct estimates of educational attainment for a sample of 21 OECD countries. Our
series incorporate previously unexploited information and try to remove sharp breaks in
the data that can only reflect changes in classification criteria. We then construct
indicators of the information content of our estimates and a number of previously
available data sets and examine their performance in several growth specifications. We
find a clear positive correlation between data quality and the size and significance of
human capital coefficients in growth regressions. Using an extension of the classical
errors in variables model to correct for measurement error bias, we construct a set of
meta-estimates of the coefficient of years of schooling in an aggregate Cobb-Douglas
production function. Our results suggest that the value of this parameter is likely to be
above 0.60.
Extended working paper version (CEPR
Discussion Paper 3587)
Educational Attainment in the OECD,
1960-1995: This document describes the construction of series on the educational
attainment of the adult population in a sample of 21 OECD countries for the period
1960-95.
Spreadsheet
with the data
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