Determine the causal effect of education

Reference no: EM133711210

Question: You would like to determine the causal effect of education on one's hourly wage, an important question for policymakers interested in the field of education. Suppose you collect a data set and observe that people with more years of schooling earn a higher hourly wage.

Would this observation enable us to conclude that more years of schooling increase hourly wages? Why or why not? Give two potential confounding (or lurking) variables which would impact this result.

Could the relation betweenhourly wage and years of schooling be driven by reverse causation (ie hourly wage explains years of schooling)? Why or why not?

Reference no: EM133711210

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