Life Cycle Earnings, Education Premiums and Internal Rates of Return
---- Acknowledgments ----
An earlier but substantially different version of this paper circulated as "Life-Cycle Bias and the Returns to Schooling in Current and Lifetime Earnings", IZA Discussion Papers 5788, June 2011. Financial support from the Research Council of Norway (194339) is gratefully acknowledged. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.