Econometric analysis reveals unobserved family background effects on earnings among brothers, indicating traditional estimates may miscalculate true returns to schooling.
Gary Chamberlain, Zvi Griliches, Unobservables with a Variance-Components Structure: Ability, Schooling, and the Economic Success of Brothers, International Economic Review, Vol. 16, No. 2 (Jun., 1975), pp. 422-449
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Chamberlain et al. (1975) studied this question.
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