How large are returns to schooling? Hint: Money isn't everything
---- Acknowledgements ----
We thank Florian Hoffman for his very helpful research assistance. We also thank Kevin Milligan, Enrico Moretti, Stacey Chen, Costas Meghir, Pedro Carneiro, Matthias Perry, and Dean Lillard for providing data and code, and David Autor, Judith Scott-Clayton, Brian Jacob, Sue Dynarski, Aloysius Siow, David Figlio, Kevin Milligan, and John Helliwell for helpful comments. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.