Estimation of the Education Production Function for Principles of Macroeconomics

Steven Dickey and Robert G. Houston Jr.
    This study examines the commonly used limited dependent variable constructions found in the education production function literature and additionally tests several unbounded constructions of the dependent variable. Innovations within this study include short period measurement of student effort, four new dependent variable specifications and a full comparison and testing of eight production function models. In general, our findings support advantages in an unbounded construction of the dependent variable.

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