@TechReport{iza:izadps:dp5788,
            	author={Bhuller, Manudeep and Mogstad, Magne and Salvanes, Kjell G.},
            	title={Life-Cycle Bias and the Returns to Schooling in Current and Lifetime Earnings},
            	year={2011},
	month={Jun},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={5788},
            	url={https://www.iza.org/publications/dp5788},
	abstract={This paper uses a unique data set with nearly career-long earnings histories to provide evidence on the returns to schooling in current and lifetime earnings. We use these results to assess the importance of life-cycle bias in earnings regressions using current earnings as a proxy for lifetime earnings. To account for the endogeneity of schooling, we apply three commonly used identification strategies. Our estimates demonstrate a strong life-cycle bias, often exceeding the bias from assuming that schooling is exogenous. We further explore the problems caused by life-cycle bias in research on the economic returns to schooling, and discuss possible remedies.},
	keywords={returns to schooling;life-cycle bias;lifetime earnings;current earnings;errors-in-variables model},
            }